Montréal - On March 31, 2015, Justice of the Peace Rosemarie Millar, of the Court of Québec for the district of Gatineau, fined Sébastien Doyon and 4412265 Canada Inc. a total of $530,000.
More specifically, Judge Millar fined Sébastien Doyon $405,000 and 4412265 Canada Inc. $125,000, representing three times the minimum fine set by law.
In September 2014, Sébastien Doyon was found guilty on 17 counts for aiding 4412265 Canada Inc. with making illegal distributions and 17 counts of acting illegally as a securities dealer. He was also found guilty of making misrepresentations in respect of a transaction in a security (5 counts), in particular by stating that some investments would generate monthly returns of between 2 and 7%. Note that Sébastien Doyon has appealed the guilty verdict rendered by Judge Millar in September 2014 to the Superior Court.
As for 4412265 Canada Inc., it was found guilty on 34 counts, namely, 17 counts of making illegal distributions and 17 counts of acting illegally as a securities dealer.
In the same matter, Jean Verdon filed a guilty plea in October 2013 to the eight counts against him and was ordered to pay a $125,000 fine in accordance with the agreement entered into between the parties.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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