October 20, 2010 Securities Decisions and Freeze and cease trade orders

Montréal – In the past several weeks, three representatives sued by the Autorité des marchés financiers (AMF) for violations of the Securities Act related to the distribution of products of Mount Real were fined a total of $130,000.

Sylvie St-Denis fined $102,000

On October 12, 2010, Judge Claude Millette imposed a $102,000 fine on Sylvie St-Denis, who pleaded guilty to 20 charges brought against her: eight counts for illegally acting as a securities dealer, eight counts for aiding Mount Real Acceptance Corporation to make illegal distributions and four counts for misrepresentations to investors.

Carole Dorion fined $22,000

On October 15, 2010. Judge Sylvie Durand of the Court of Québec imposed fines totalling $22,000 on Carole Dorion, who was previously found guilty on eight charges: six counts of illegally acting as a securities dealer and two counts for aiding Mount Real Acceptance Corporation to make illegal distributions.

Antonella Niro fined $6,000

On October 12, 2010, Judge Claude Millette imposed a $6,000 on Antonella Niro, who pleaded guilty to the two charges brought against her: one count for illegally acting as a securities dealer and one count for aiding Mount Real Acceptance Corporation to make illegal distributions.

On January 24, 2001, the AMF filed 619 charges against 24 individuals who acted as representatives in the matter of Mount Real Corporation and its subsidiaries. To date, 12 individuals (Victor Lacroix, Armando Ferruci, Christophe Balayer, Luigi Muro, Anthony Cappellano, Éric Couture, Laraine Lyttle (sentence pending), Yves Tardif, Guy Prescott, Carole Dorion, Sylvie St-Denis and Antonella Niro) have been found guilty on 307 charges and fined a total of $1,440,500.

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

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Information:

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Additional news

• October 24, 2018 Lino P. Matteo’s appeal dismissed
• February 13, 2015 Mount Real - Yves Mechaka fined $140,000
• February 19, 2014 In the Matter of Norshield - Enrico Bruni fined $18,000
• July 2, 2013 Norshield - René Joubert Fined $225,000
• February 18, 2013 Penal proceedings against the officers of Mount Real - Paul D'Andrea fined $655,000
• December 20, 2012 Illegal practice as a dealer - Jacques Gagné fined $806,000
• September 6, 2012 In the Matter of Norshield - Michel L'Italien fined $80,000 and René Joubert found guilty
• May 25, 2012 In the Matter of Norshield - Claude Tardif ordered to pay $16,000 in fines
• April 10, 2012 Mount Real and Norshield - Marc-André Froment and Roberto Milzi fined
• May 6, 2011 Norshield - Yves Tardif fined $104,000
• March 7, 2011 Not responsible by reason of mental disorders - AMF appeals decision rendered in respect of Denis Patry
• February 25, 2011 Mount Real and Norshield - Nick Mylonakis, William Marston and René Proteau fined
• January 24, 2011 Mount Real - Paul Messier Jr fined $104,000
• December 22, 2010 Mount Real and Norshield - Fayza Rifai, Jaime Lao Wan Lian, Francesco Iaconno and Nick Mylonakis guilty
• November 22, 2010 Penalty against second representative in Norshield matter
• November 10, 2010 Mount Real - Paul Quenneville and René Proteau plead guilty
• October 27, 2010 12^th representative fined in Mount Real matter - Larraine Lyttle fined $91,000
• June 4, 2010 Guilty verdict for ninth Mount Real representative - Guy Prescott fined $40,500
• May 27, 2010 Penalty against representative in Norshield matter
• May 11, 2010 Three representatives convicted - Yves Tardif, Éric Couture and Larraine Little guilty
• March 31, 2010 In the Matter of Norshield - AMF Sues 11 individuals, Files 140 Charges and Seeks $976,000 in Fines
• March 23, 2010 Illegal Distributions on the North Shore - Michel L'Italien fined $500,000
• March 8, 2010 Mount Real - Anthony Cappellano guilty
• May 14, 2009 Michel L'Italien and Jacques Gagné - Freeze orders extended
• December 22, 2008 Zenith Corporation - AMF files 89 charges against Denis Patry , seeks prison term and fine of $2,157,000
• November 14, 2008 AMF files suit against Jacques Gagné and seeks over $800,000 in fines
• November 13, 2008 Michel L'Italien - Freeze order extended
• September 22, 2008 Mount Real - AMF files 682 charges against 5 officers, seeks prison terms and hefty fines
• August 27, 2008 Jacques Gagné - Freeze order extended
• August 15, 2008 AMF files 102 charges against Michel L'Italien and seeks $692,000 in fines
• May 5, 2008 Mount Real - Anthony Cappellano guilty
• April 30, 2008 Mount Real - Enrico Bruni acquitted
• April 14, 2008 Mount Real - Luigi Muro found guilty and ordered to pay $324,000
• January 10, 2008 Mount Real - Christophe Balayer guilty on 10 counts
• November 1^st, 2007 Victor Lacroix and Armando Ferruci convicted and fined, respectively, $156,000 and $288,000
• June 4, 2007 Matter of Michel L'Italien - Freeze and cease trade orders
• March 7, 2007 Freeze and cease trade orders against Michel L'Italien, 9151-5270 Québec inc., Noble & Finance inc. and Les Investissements Noble & Finance inc.
• February 27, 2007 Québec Court rules appeal by Jacques Gagné unfounded
• January 30, 2007 Matter of Jacques Gagné - Freeze orders renewed
• January 24, 2007 Mount Real - AMF files 619 charges against 24 individuals
• December 19, 2006 Application for suspension of execution dismissed for Jacques Gagné
• July 6, 2006 Zenith - AMF pleased with implementation of liquidation plan
• June 8, 2006 Mount Real Corporation - Freeze order extended
• May 24, 2006 Order against Jacques Gagné confirmed
• May 16, 2006 Mount Real Corporation - AMF confirms suspension of two independent representatives and firm
• March 24, 2006 Mount Real Corporation - AMF suspends Carole Dorion
• March 17, 2006 Mount Real Corporation: Court authorizes AMF to intervene
• March 9, 2006 Jacques Gagné found guilty
• February 28, 2006 Mount Real Corporation - Orders issued against Laurence Henry
• February 23, 2006 Mount Real Corporation - AMF suspends Champoux, Froment et associés
• February 14, 2006 Mount Real Corporation - AMF suspends Yves Tardif
• February 13, 2006 Zenith - Liquidation order and appointment of liquidator
• February 9, 2006 Mount Real Corporation - Freeze order extended
• January 13, 2006 Report filed by provisional administrator - AMF recommends Wind-Up of Zenith Growth Fund
• January 13, 2006 AMF recommends wind-up of Zenith growth fund
• January 6, 2006 New Cease Trading Order In Mount Real Case
• December 1^st, 2005 Valeurs mobilières iForum inc. - Services Financiers iForum inc. - Sale of Assets
• November 23, 2005 Mount Real Corporation - Further freeze order
• November 10, 2005 Mount Real Corporation - Provisional administrator appointed, freeze and cease trading orders issued
• October 31, 2005 Zenith fund - Appointment of provisional administrator recommended
• September 13, 2005 Planiges registration suspended and Zenith fund frozen
• June 30, 2005 RSM Richter Appointed Receiver of Norshield Group in Quebec
• June 29, 2005 Court Orders Appointment of RSM Richter Inc. as Receiver of Norshield
• June 22, 2005 AMF investigating Mount Real
• June 3, 2005 Norshield Asset Management - Appointment of monitor
• May 20, 2005 Norshield funds ordered to cease activity
• March 30, 2005 Orders issued against Jacques Gagné