Penal proceedings initiated against Dominic Longpré, Jean Desmarteau & Alexandre Lauzière


Montréal – The Agence nationale d’encadrement du secteur financier (also known by the name of "Autorité des marchés financiers" or "AMF") is initiating penal proceedings against Dominic Longpré, Jean Desmarteau and Alexandre Lauzière before the Court of Québec (Criminal and Penal Division), in the judicial district of Montréal. These individuals, associated with Forex Canada NTS Inc. (“Forex”), are accused of having infringed upon the Québec Securities Act.

Forex’s president, M. Longpré, is facing sixty (60) counts, whereas Messrs. Desmarteau and Lauzière are respectively facing eighteen (18) and eight (8) counts.

More specifically, all three individuals are accused of:

  • Having carried on business as dealer without being registered as such;
  • Having helped Forex to distribute securities without it having an approved prospectus.

If found guilty as charged, these individuals will be ordered to pay minimum fines of $168,000, $46,000 and $24,000, respectively.

Recall that in connection with an investigation institued by the Commission des valeurs mobilières du Québec, a freeze and cease trade order had initially been issued by the Commission on May 23, 2002 against Forex and Mr. Longpré.

To read press releases previously published in this matter, please consult the AMF’s website, under the heading Access to the sites of the organizations merged into the Autorité. Click on the link to the Commission des valeurs mobilières du Québec (CVMQ), then on the link to the CVMQ’s archived press releases.

Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l'assurance-dépôts du Québec, the Fonds d'indemnisation des services financiers and the Inspector General of Financial Institutions.

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For More Information:

Journalists only: Barbara Timmins (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Investors: (877) 525-0337, dial 9 for English,then dial 2 for consumers

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