Nemex Network Corporation - AMF files 125 charges and seeks $2 million in fines
Securities
Montréal - The Autorité des marchés financiers (the AMF) has launched a penal proceeding in the district of Québec City against six individuals associated with Nemex Network Corporation and filed 125 charges for illegal practice as a dealer and aiding in an illegal distribution. The AMF is seeking close to $2 million in fines in this matter.
Karl Talbot, President of Nemex Network Corporation, is facing 107 charges and the AMF is seeking a $1,735,000 fine against him alone. Guy Normandin, Jean Boivin, André Jacques, Dennis Nadeau and Richard Lemay Not to be confused with claims adjuster Richard Lemay attached to the firm Lemay & associés inc. in Québec City who holds certificate No. 121 080. are facing a total of 18 charges and the AMF is seeking $198,000 in fines against them.
Nemex Network Corporation claimed to be a research and development company. It marketed products primarily intended for American domestic markets, including "One Gym" and "Ultimate Voice Builder" equipment, through infomercials.
The AMF's investigation shows that 39 investors lost $1,020,475.
The Autorité des marchés financiers (the 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