April 10, 2013 Securities

Montréal - On April 2, 2013, following an ex parte trial at the Salaberry-de-Valleyfield Courthouse, Justice of the Peace Patricia Compagnone found Bernard Simon Nagy guilty of two charges: aiding, by act or omission, Joint Venture Company with an illegal distribution and illegally acting as a securities dealer. She fined him a total of $18,000.

Bernard Simon Nagy was ordered to pay three times the minimum fine on each count, as the Autorité des marchés financiers (the AMF) had sought. The aggravating factors considered in imposing this fine were the relationship of trust, the amount of harm suffered, namely, a loss of US$11,000, the objective seriousness and the impacts on the financial markets.

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

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