Decisions and Freeze and cease trade orders Securities
Montréal - On September 25, 2013, at the request of the Autorité des marchés financiers (the "AMF"), the Bureau de décision et de révision (the "Bureau") prohibited DBSG Fonds d'investissement inc. (DBSG), Younes Ben-Ghabrit, Nader Zebib, Sid-Ali Djenadi and Ahmed-Yassin Sedjal from trading in derivatives and carrying on activities as a dealer or adviser. The Bureau also ordered them to remove any announcement or advertising from the Internet and close any website on which they solicit investors.
The orders result from the work of the AMF's cyber-surveillance team. Through Internet ads, these individuals encouraged consumers to invest in DBSG by guaranteeing a 10% return per month. None of these individuals was registered with the AMF to carry on this type of solicitation and DBSG has never filed a prospectus with the AMF.
Younes Ben-Ghabrit, a director and shareholder of DBSG, admitted all the AMF's allegations against him, including having incorporated DBSG and encouraging individuals to invest in it. Through their various actions, Younes Ben-Ghabrit, Nader Zebib, Sid-Ali Djenadi and Ahmed-Yassin Sedjal all helped make the company visible to the public to induce people to invest in it.
The prohibition orders against Ahmed-Yassin Sedjal will be in effect for one year. The Bureau considered that he was the main victim in this matter.
Through proactive intervention, the AMF has ensured that investors other than Ahmed-Yassin Sedjal will not be swindled in this matter.
Reminder to investors
The AMF reminds investors to follow five simple steps to help determine if they are the target of fraud. Visit our website to learn more about how to protect yourself against this type of conduct.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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