Illegal Practice as a Securities Dealer - AMF files four charges against Georges Dufour
Montréal - The Autorité des marchés financiers(the "AMF") has filed four charges against Georges Dufour for illegaly pursuing activities as a securities dealer and aiding a company in making distributions without a prospectus. The AMF is seeking fines totalling $52,000.
As part of its cybersurveillance initiative, the AMF identified a website that was being used for the distribution of shares of SaveStove Corporation (SSC), First Home Safety Corp. (FHSC) and GJD Holding Corp. (GJD) through Georges Dufour. Cybersurveillance enables the AMF to detect and prevent suspicious activities involving the distribution of financial products and services on the Web.
Georges Dufour claimed to be the inventor of a fire prevention and protection device, which was being distributed through these companies.
The investigation established that Georges Dufour solicited investors without being registered with the AMF as a dealer and that GJD and FHSC did not have a prospectus approved by the AMF.
At least two investors lost a total of $30,000.
Reminder for investors
In its most recent awareness campaign, 5bonnesquestions.ca (in French only), the AMF reminded consumers of the importance of having detailed written information prior to investing. Such a document should provide information about the risks associated with the proposed investment, whether you can access your money and, under what conditions, as well as information regarding investment fees. To verify the authenticity of the document provided, you can contact the AMF Information Centre or consult Sedar.com, a website containing the information required by regulatory organizations such as the AMF.
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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