Montréal - The Autorité des marchés financiers ("AMF") has launched penal proceedings against Samir Daher and filed 60 charges for illegal practice as a dealer and distribution without a prospectus. The respondent faces a minimum fine of $184,000.

The AMF investigation revealed that Samir Daher solicited investors for the purpose of investing large amounts through loan agreements entered into by himself or by various firms, including CCI Investissement Inc., of which he is the director and the president.

The agreements carried terms varying from six months to five years and interest rates ranging from 9% to 20%.

A total of 13 investors lost a little more than $155,000.

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

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