Norbourg - AMF to appeal reduced sentence for Vincent Lacroix


Montréal – The Autorité des marchés financiers (AMF) is seeking to appeal the decision handed down on July 8, 2008 by Québec Superior Court Judge André Vincent that reduced the sentence imposed on Vincent Lacroix by 4  months. Under the decision, Vincent Lacroix would serve a prison term of 8½ years.

The AMF conducted a thorough and in-depth analysis of Judge Vincent's decision and, in the interest of justice, decided to launch an appeal. The AMF believes that the initial sentence handed down in January 2008 against Vincent Lacroix by Judge  Leblond, namely, a prison term of  years less a day, should be upheld.

The motion filed in the Court of Appeal further confirms the AMF's position that economic crimes are serious and detrimental to society and should be harshly penalized with exemplary sentences for deterrence purposes.

The AMF believes that the initial consecutive sentences imposed for the three sets of charges on which Vincent Lacroix was found guilty should be reinstated. In his July 2008 decision, Judge André Vincent stated that only two of the three prison sentences were to be served consecutively.

On December 11, 2007, Judge Claude Leblond found Vincent Lacroix guilty on the  charges brought against him by the AMF on March 9, 2006. In January 2008, Judge Leblond ordered Vincent Lacroix to serve 12 years less a day. And on July 8, 2008, Québec Superior Court Judge André Vincent reduced the sentence to 8½ years.

The decisions handed down by judges Claude Leblond and André Vincent and the AMF's motion for leave to appeal are available (in French only) under Current Issues/Norbourg on the AMF website.

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

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