Illegal Practices and Distributions - Serge Élie Resic Fined $144,000

Decisions and Freeze and cease trade orders Securities

Montréal – On October 27, 2010, Judge Salvatore Mascia of the Court of Québec, district of Montréal, found Serge Élie Resic guilty of illegal practices and distributions and ordered him to pay fines totalling $144,000.

More specifically, Serge Élie Resic was found guilty on five counts brought against him by the Autorité des marchés financiers (AMF) under the Securities Act. He was found guilty on two counts of illegally acting as a securities dealer, two counts of aiding ComoFx inc. with illegal distributions and one count of aiding the same company with pursuing activities as a securities dealer for an uninterrupted period of 58 days.

The judgment was rendered in the defendant's absence. The charges against Serge Élie Resic were served through newspapers in December 2009.

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


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