Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings against six individuals in connection with the Lovaganza project and filed 247 charges for making a distribution without a prospectus, illegal practice as a dealer, failing to abide by a decision of the Bureau de décision et de révision ("Bureau") and hindering an investigator's work. The minimum fine being sought for all the charges is $886,866.
More specifically, the AMF has filed 112 charges against Mark-Éric Fortin, 72 charges against Karine Lamarre, 18 charges against Mathieu Carignan, 39 charges against Louise Larente, four charges against Céline Monchamp and two charges against Maurice Lalonde.
The AMF's investigation revealed that these individuals actively solicited the public to invest in the Lovaganza project, which was described as a large-scale film production that is currently the subject of discussions with major Hollywood studios. Through social media, networking and word of mouth, the proposed investment offered a return of between two and 10 times the amount initially invested. A dozen companies and over 140 individuals allegedly invested close to $2.7 million.
The AMF is asking anyone with relevant information or who was solicited by the above-mentioned individuals regarding the Lovaganza project or any other films to contact the AMF's Information Centre (contact information below) as soon as possible.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
Twitter: @lautorite This link will open in a new window