Hyacinthe Auger pleads guilty to ten counts

Decisions and Freeze and cease trade orders Securities

Montréal – On April 26, 2004, at the Montréal Courthouse, Hyacinthe Auger, a former senior executive of Enviromondial Inc. admitted his guilt to 10 counts brought against him by the Commission des valeurs mobilières du Québec (the “Commission”, now part of the Autorité des marchés financiers). Judge Jean-Georges Laliberté of the Court of Québec, Criminal and Penal Division, ordered him to pay a total fine of $42,000 within a period of 60 months.

Mr. Auger pleaded guilty to the following charges:

  • Having assisted Enviromondial to distribute its shares without the company having a prospectus approved by the Commission, thus infringing section 11 of the Québec Securities Act (the “Act”). With regards to this infringement, Mr. Auger admitted his guilt to eight (8) counts which earned him a fine of $40,000;
  • Having carried on business as a dealer without being registered as such with the Commission, in violation of section 148 of the Act. He admitted his guilt to two such counts for which a fine of $2000 was imposed.

The Commission had initiated the penal proceedings against Mr. Auger on October 7, 2003.

To read press releases previously published in this matter, please consult the AMF’s website, under the heading Access to the sites of the organizations merged into the Autorité. Click on the link to the Commission des valeurs mobilières du Québec (CVMQ), then on the link to the CVMQ’s archived press releases.

Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l'assurance-dépôts du Québec, the Fonds d'indemnisation des services financiers and the Inspector General of Financial Institutions.

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