Decisions and Freeze and cease trade orders Securities

Montréal – In a decision rendered on May 11, 2005, Judge Jean B. Falardeau of the Court of Québec (Criminal and Penal Division), judicial district of Montréal, declared Michel Maheux to be guilty on all 74 counts brought against him by the Autorité de marchés financiers (AMF).

Mr. Maheux was accused of violating the Québec Securities Act by assisting, by act or omission:

  • the Coopérative de producteurs de bois précieux Québec Forestales with contravening a decision issued by the Commission des valeurs mobilières du Québec;
  • the Coopérative de producteurs de bois précieux Québec Forestales with making a misrepresentation regarding a securities transaction by incorrectly stating, during the distribution of the cooperative’s preferred shares, that the shares were eligible for the Cooperative Investment Plan.

Mr. Maheux was ordered to pay a total fine in the amount of $222,000, plus costs.

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

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