Jacques Belval, Warren Jang and Développement W.J. Infinité Projet Inc. found guilty
Decisions and Freeze and cease trade orders Insurance
Montréal – In a decision handed down on January 29, 2009, Judge Dominique Wilhelmy of the Court of Québec (Criminal and Penal Division), district of Montréal, found Jacques Belval, Warren Jang and Développement W.J. Infinité Projet Inc. guilty on four counts brought against them by the Autorité des marchés financiers (AMF) and ordered them to pay fines totalling $5,500.
Jacques Belval was fined $4,000, which is four times the minimum amount prescribed by law, for:
- acting as a claims adjuster without holding the appropriate certificate issued by the AMF, thereby violating section 12 of the Act respecting the distribution of financial products and services (the "Act") and committing an offence under section 461 (2 counts).
A fine of $500 was imposed on Warren Jang for:
- aiding Développement W.J. Infinité Projet Inc., operating under the name Infinité Project Development Inc., with activities as a claims adjustment firm without being registered as such with the AMF, thereby violating section 71 of the Act and committing an offence under section 462 (1 count).
As for Développement W.J. Infinité Projet Inc., it was fined $1,000 for:
- acting as a claims adjustment firm without holding the appropriate certificate issued by the AMF, thereby violating section 71 of the Act and committing an offence under section 462 (1 count).
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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