Louis Talbot pleads guilty to the 46 counts filed against him by the AMF and is fined $138,000

Decisions and Freeze and cease trade orders Securities

Montréal – On December 12, 2007, the fourth day of the trial presided over by Madam Justice Christine Auger of the Court of Québec (Criminal and Penal Division), district of Gatineau, Louis Talbot pleaded guilty to 46 counts filed against him by the Autorité des marchés financiers (AMF).

Louis Talbot is guilty:

  • of 23 counts, for assisting, by act or omission, Le Groupe Montferrand inc. with the distribution of a form of investment governed by the Securities Act (the “Act”) without a prospectus approved by the AMF, namely the shares of Le Groupe Montferrand inc., which is in violation of section 11 of the Act, thereby committing the offence under section 202 of the Act, with reference to section 208 of the Act;
  • of 23 counts, for acting as a securities adviser, without being registered with the AMF, by making a distribution in the form of an investment governed by the Act, namely the shares of Le Groupe Montferrand inc.

Justice Auger ordered him to pay a fine of $138,000, plus costs.

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

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