Decisions and Freeze and cease trade orders
Montréal - On May 28, 2015, the Bureau de décision et de révision (the "Bureau") issued orders and an administrative penalty in the amount of $5,000 against Steeve Beaudin.
The Bureau's decision has been appealed before the Court of Québec.
More specifically, the Bureau banned him from pursuing activities as an adviser and carrying out any activities for the purpose of conducting, directly or indirectly, a transaction in respect of securities. It also ordered him to shut down his website at www.maxhyip.com. In addition, the Bureau imposed an administrative penalty on him for pursuing activities as a dealer and adviser without being registered with the AMF.
Through his website at www.maxhyip.com, Steeve Beaudin promoted HYIPs (High-Yield Investment Programs) among Québec investors. As well, through his website, he offered advice on the quality of HYIPs.
HYIPs are investment programs in which money is invested for a given period (hour, day, week or month) at a high interest rate. It is a fraudulent scheme where investors are generally asked to entrust the management of their investments to so-called experienced managers and they earn interest according to the period chosen, which they can withdraw as they wish. In addition to being fraudulent, HYIPs are administered by companies which are generally located abroad, making it difficult for consumers to take legal action if they feel they have been victims of fraud.
The AMF issued a warning in November 2014 regarding the activities of Steeve Beaudin and www.maxhyip.com.
If you believe you have been defrauded through an investment related to the activities of Steeve Beaudin, contact the AMF's Information Centre.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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Cathy Beauséjour: 514-395-0337
Québec City: 418-525-0337
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