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.

— 30 —

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337

Additional news