Natural Solutions International Inc. - Four co-accused fined almost $500,000

Decisions and Freeze and cease trade orders Securities

Montréal - On July 20, 2012, the Honourable Judge Christian M. Tremblay of the Court of Québec in the district of Montréal imposed fines totalling $487,500 on four co-accused involved in the illegal distribution of Natural Solutions International (NSI) Inc. securities.

In February 2011, Theodore Tsoukatos, president of Services financiers Sovereign Capital inc., who had been struck off the register in October 2010, had pleaded guilty to 23 counts of aiding with illegal distribution and to 23 counts of illegally pursuing activities as a securities dealer. Theodore Tsoukatos, registered in mutual funds at the time of the accusations, met with investors, answered their questions, acquainted them with NSI, and made them sign documents concerning RRSP investments. Theodore Tsoukatos was fined $229,500.

Roger Corriveau, president, director and majority shareholder of NSI, also pleaded guilty to 23 counts of aiding with illegal distribution in February 2011. The Honourable Judge Tremblay imposed $195,000 in fines on Roger Corriveau.

Ghislaine Pigeon acted as an intermediary in recruiting investors in this matter. In February 2011, she pleaded guilty to 8 counts of aiding with illegal distribution and illegally pursuing activities as a securities dealer. She was fined $36,000. Ghislaine Pigeon was also fined $55,500 for similar offences in 2010 and is the subject of another penal proceeding brought against her by the AMF in 2011.

Line Vaillancourt also acted as an intermediary for recruiting investors for this matter. In April 2011, she was found guilty of 11 charges of aiding with illegal distribution and illegally pursuing activities as a securities adviser and dealer. She was fined $27,000. It should be noted that Line Vaillancourt was also fined $14,000 for similar offences in 2009.

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

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