Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division) against 24 individuals involved at various levels in the matter of Mount Real Corporation and its affiliates.
The AMF has filed 619 charges against 24 individuals for committing one or more of the following offences:
- acting as a dealer or adviser without being registered with the AMF, thereby violating section 148 of the Securities Act, R.S.Q., c. V-1.1 (“Act”);
- assisting, by act or omission, Mount Real Corporation, Mount Real Acceptance Corporation, MRACS Management Ltd. and Real Vest Investments Ltd. with the distribution of a form of investment governed by the Act, namely, promissory notes issued by the above-mentioned companies, without a prospectus approved by the AMF, thereby violating sections 11 and 208 of the Act;
- making misrepresentations to investors, thereby violating section 197 of the Act.
If found guilty by the Court of Québec, these individuals are liable to fines ranging from $1,000 to $15,000 for each offence, for a total amount of $4,219,000.
|Christophe Balayer||Roberto Milzi|
|Enrico Bruni||Luigi Muro|
|Anthony Cappellano||Nick Mylonakis|
|Éric Couture||Antonella Niro|
|Carole Dorion||Guy Prescott|
|Marc-André Froment||René Proteau|
|Francesco Iacono||Fayza Rifai|
|Laraine Lyttle||Sylvie St-Denis|
|William Marston||Yves Tardif|
|(Five names have been omitted since notification in respect of the persons has not been completed. The names will be released when appropriate.)|
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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Frédéric Alberro (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers