Investor Warnings Decisions and Freeze and cease trade orders
Montréal - On May 14, 2014, at the request of the Autorité des marchés financiers ("AMF"), the Bureau de décision et de révision ("Bureau") issued freeze and cease trade orders, as well as orders to cease acting as a securities adviser, against various individuals and companies who, although they were not registered with the AMF and did not issue a prospectus, solicited and obtained financing for a project called "Lovaganza," in particular through the company One-Land.
This project involves, among other things, the production of a film trilogy and a number of international events scheduled for September 2015 related to producers Jean-François Gagnon The respondent Jean-François Gagnon should not be confused with Jean-François Gagnon who holds certificate 150 306 in insurance of persons with the firm Distribution financière Sun Life (Canada) Inc. and is registered as a mutual fund dealing representative with the firm Placements Financière Sun Life (Canada) Inc., with Jean-François Gagnon who holds certificate 172 022 in insurance of persons with the firm Services financiers Jean-François Gagnon Inc. and is registered as a mutual fund dealing representative with the firm Placements Financière Sun Life (Canada) Inc., with Jean-François Gagnon who is registered as an advisory representative (portfolio manager) and a dealing representative (exempt market) with the firm Corporation Fiera Capital (NRD 1301541), or with Jean-François Gagnon who holds certificate 203 942 as a claims adjuster in personal-lines damage insurance with the firm Desjardins Assurances générales Inc. and Geneviève Cloutier Gagnon The respondent Geneviève Cloutier Gagnon should not be confused with Geneviève Cloutier who holds certificate 160 356 as a claims adjuster with the firm Compagnie d'assurance AIG du Canada, with Geneviève Cloutier who holds certificate 184 599 in commercial-lines damage insurance (agent) with the firm Federated Insurance Company of Canada, or with Geneviève Cloutier who holds certificate 195696 in personal-lines damage insurance (agent) with the firm Industrielle-Alliance, Assurance auto et habitation Inc. .
More specifically, the Bureau ordered Marc-Éric Fortin, Mathieu Carignan, Karine Lamarre, Louise Larente, Corporation One-Land du Canada, Lovaganza 2015 and Fer Rouge Creative Company, as well as all their officers, representatives and employees, to cease acting as advisers and cease any activity in respect of any form of investment governed by the Securities Act.
The Bureau also issued a freeze order against these same respondents and against Karine Despatie, Roland Chaput, Jean-François Gagnon and Geneviève Cloutier.
The Bureau gave the following as compelling reasons for its decision:
- The respondents are still soliciting investors;
- The salespersons are not registered as dealers with the AMF;
- Information about these investments, when divulged, is too fragmented to adequately inform investors;
- The promised returns were extremely high;
- Increasingly significant amounts were being invested;
- The invested money is sent abroad, outside the jurisdiction of the Bureau and the AMF;
- The use of the Internet by the promoters could increase the dissemination of information about the investment;
- Deposits and withdrawals in the bank accounts of Marc-Éric Fortin had been made at least up until the end of April 2014.
The respondents will have the opportunity to be heard by the Bureau over the coming weeks.
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