Montréal - On June 12, 2013, Judge Sylvie Desmeules accepted the guilty plea entered by 1 to the charges filed against him by the Autorité des marchés financiers ("AMF") for illegal practice as a dealer. The Judge also accepted the joint recommendation regarding sentencing, namely, a total fine of $4,000 plus costs.
The activities of Éric Landry were part of a ploy in which investors were solicited for the purpose of buying undeveloped land lots at low prices and selling them to entrepreneurs after infrastructures had been set up. However, in reality, no property transfers ever took place. Investors lost over $260,000 under the ploy.
In this same matter, Jean-François Demers was found guilty on 44 charges on September 13, 2012 and fined a total of $344,000.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
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1Respondent Éric Landry should not be confused with financial planner and dealing representative (mutual fund dealer) Éric Landry of Yamachiche, holder of certificate 165995 and damage insurance agent for individuals Éric Landry of Québec, holder of certificate 190090.