Montréal, August 3, 2011 - The Autorité des marchés financiers (the "AMF") has launched penal proceedings against Georges Younes, director, president and shareholder of 3854671 Canada Inc., operating under the names Services Magic Pro & Reno Deco/Magic Pro Services & Reno Deco, in the Court of Québec (Criminal and Penal Division), district of Laval.
As part of the proceedings, the AMF has filed five charges against Georges Younes in which it accuses him of acting illegally as a claims adjuster without holding any certificate in this sector. The AMF is seeking double the minimum fine, namely, fines totalling $12,000.
The alleged facts occurred between January 2009 and October 2010 when Mr. Younes was mandated to represent insureds who incurred losses affecting their building or business.
The publication of this press release also constitutes the method of service of the statement of offence with respect to Georges Younes authorized by the Court of Québec. The statement of offence is available from the Court of Québec, Penal Division, Laval courthouse, located at 2800 St. Martin Blvd. West, Laval, Québec H7T 2S9.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial industry.
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