Martin Tremblay - AMF launches penal proceedings against Gilbert Fournier


Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division), district of Montréal, against Gilbert Fournier.

As part of the proceedings, the AMF filed one charge against Gilbert Fournier for violating the Securities Act, R.S.Q. c. V-1.1 (the "Act"), by hindering an AMF investigator in the course of an investigation into Dominion Investments Ltd. ("Dominion") by refusing to answer the investigator's questions, thereby violating section 195 of the Act. The AMF is seeking a fine of $1,000 plus costs with respect to this charge.

The brokerage firm Dominion, which is located in the Bahamas, was owned by Martin Tremblay, who was arrested in New York on January 23, 2006 by the U.S. authorities for laundering some $1 billion through Dominion for the benefit of certain clients. In addition, on January 27 and February 11, 2006, at the request of the AMF, the Bureau de décision et de révision en valeurs mobilières issued a freeze order in respect of all the assets of Dominion and Martin Tremblay, including the brokerage accounts opened at Avantages. Dominion and Martin Tremblay are still under investigation by the AMF.

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

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