Illegal practices and distributions - Yves Dion pleads guilty

Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on May 5, 2009, Judge François Kouri of the Court of Québec (Criminal and Penal Division), district of Saint-Hyacinthe, found Yves Dion guilty on the 18 charges brought against him by the Autorité des marchés financiers (AMF).

Yves Dion pleaded guilty to each of the 18 charges under the Securities Act (the "Act") for:

  • pursuing activities as a securities dealer without being registered with the regulatory authority by making a distribution of a form of investment governed by the Act, thereby violating section 148 of the Act, and committing an offence under section 202 (9 charges);
  • making a distribution of a form of investment governed by the Act, namely, an investment contract, without preparing a prospectus approved by the regulatory authority, thereby violating section 11 of the Act (9 charges).

The sentencing date for Yves Dion is set at October 7, 2009. At the sentencing hearings, the AMF made representations for a fine of over $525,000 against Yves Dion.

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

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