Securities

Montréal - Further to an investigation, the Autorité des marchés financiers ("AMF") has launched a penal proceeding against Sylvain Bélair and Patrick Boisvert for conducting various activities related to an alleged Ponzi scheme in which at least 47 persons invested almost $2M in a real estate project in China between 2006 and 2009.

Considered to be the mastermind of the alleged strategy, Sylvain Bélair faces 188 charges, including charges for illegal distribution without a prospectus, illegal practice as a securities dealer and misinformation about a transaction in securities. He is liable to a minimum fine of $697,200 if found guilty on all counts.

As for Patrick Boisvert, he faces 52 similar charges and is liable to a minimum fine of $194,000 if found guilty on all counts.

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

- 30 -

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
www.lautorite.qc.ca
Twitter: @lautorite This link will open in a new window