Montréal - The Autorité des marchés financiers(the "AMF") has filed seven charges and will seek fines totalling $95,000 from Jean-Marc Gaudreau for illegal practice as a securities dealer and aiding with the distribution of illegal investments.
Jean-Marc Gaudreau allegedly solicited people to invest in Gestion Soficap inc. or 9135-4118 Québec inc., two companies not registered with the AMF. Instruments evidencing loans of money and an investment contract, with a minimum term of one year or for an indefinite period, were allegedly signed on the promise that the principal would be repaid with 1.5% interest per month. Jean-Marc Gaudreau allegedly solicited investors through an advertisement in the newspaper.
The amount lost by investors is estimated to be close to $78,000.
The Autorité des marchés financiers(the AMF) is the regulatory and oversight body for Québec's financial sector.
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