Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding and filed 10 charges against Frédéric Lavoie The respondent should not be confused with Frédéric Lavoie, a director and shareholder at AVENUE MODELCOM CAPITAL PARTNERS INC. for pursuing illegal activities as a dealer, carrying out a distribution without a prospectus and for stating that a company's shares would be listed on an exchange. The AMF is seeking a total fine of $124,000.

Frédéric Lavoie solicited four persons who invested a total of $110,000, either through share purchases or loans, with respect in particular to an Internet project that was never launched and was finally quashed. None of the investors was reimbursed.

The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.

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