Montréal - The Autorité des marchés financiers (the AMF) has filed five charges against Luc Chartrand and Irène Hornez for illegal practice as a dealer, distributing securities without a prospectus and making misrepresentations. The AMF is seeking $34,000 in fines from them.

The AMF's investigation showed that in the early 2000s, Luc Chartrand and Irène Hornez ran an investment club called CHIL and encouraged up to 23 investors to purchase options. Over time, some investors were told that the money they invested had lost all its value due to falling stock markets while others were reimbursed.

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

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