October 25, 2005 Securities Decisions and Freeze and cease trade orders

Montréal – On October 24, 2005, Judge Gilles Pigeon of the Court of Québec (Criminal and Penal Division), in the judicial district of Montréal, found Jean-Pierre Lusignan guilty of twelve counts charged against him by the Autorité des marchés financiers (AMF). He ordered him to pay a total fine of $36,000, plus costs.

Mr. Lusignan was accused of assisting, through an act or omission, Club d’investissement HT and Club d’investissement HT 101, with the distribution of a form of investment subject to the Securities Act, without having a prospectus approved by the Commission des valeurs mobilières du Québec (now the AMF).

Mr. Lusignan was also accused of having conducted activities as a securities dealer without being registered as such with the AMF.

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

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Information:

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