Montréal - The Autorité des marchés financiers (the AMF) has filed 16 charges against Robert (Bob) McIntosh1 and is seeking $106,000 in fines, in particular for illegal practice as a dealer, aiding with distributions without a prospectus and misrepresentations. The AMF has also filed two charges against PNA Group and is seeking $20,000 in fines.
The investigation shows that three investors invested $75,000 in PNA Group of which Robert McIntosh is the president and sole director. Robert McIntosh convinced investors that PNA Group held the intellectual property rights for the photoluminescent products sold by the company, falsely stated that the company's securities would be listed on the stock exchange and guaranteed the future value or price of the securities. Investors lost all of the money invested.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial industry.
1 Respondent Robert McIntosh should not be confused with the representative in insurance of persons and dealing representative (mutual fund dealer) whose certificate number is 123453.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337