Jitec - Ali Reza Bassiri found guilty on four charges
Decisions and Freeze and cease trade orders Securities
Montréal – In a decision handed down on August 7, 2007, Judge Louis Duguay of the Court of Québec (Criminal and Penal Division), district of Longueuil, found Ali Reza Bassiri guilty on four charges brought against him on October 8, 2004 by the Autorité des marchés financiers (AMF).
Mr. Bassiri faced penal proceedings on account of five violations in 2000 of the Securities Act, R.S.Q. c. V-1.1, for having given an undertaking to five separate investors relating to the future value or price of a security in connection with a transaction in the security of Jitec inc., thereby violating section 199(3) of the Act.
Sentencing representations by counsel will take place on September 28, 2007 at the Longueuil courthouse.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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