Productions Action Motivation inc. - Yvon Charbonneau fined $30,000

Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on January 30, 2009, Judge Robert Lanctôt of the Court of Québec (Criminal and Penal Division), district of Longueuil, found Yvon Charbonneau guilty on the six charges brought against him by the Autorité des marchés financiers (AMF) and ordered him to pay a fine of $30,000.

Yvon Charbonneau was found guilty of:

  • authorizing or permitting, on six occasions, Productions Action Motivation inc. to make a distribution of a form of investment governed by the Securities Act (the "Act") without a prospectus approved by the Commission des valeurs mobilières du Québec (Québec securities commission), namely, an investment contract issued by Productions Action Motivation inc., thereby violating section 11 of the Act and committing an offence under section  202, with reference to section 205 of the Act.

In addition, on February 18, 2009, at the request of the AMF the Bureau de décision et de révision en valeurs mobilières (BDRVM) extended, for a period of 90 days, the initial freeze order issued against Productions Action Motivation inc. on April 22, 2004. The BDRVM also issued a freeze order on April 22, 2004 on a brokerage account containing foreign securities and on funds held in a bank account. Both accounts belonged to Productions Action Motivation inc.

In the April 22, 2004 freeze order, the BDRVM ordered Productions Action Motivation inc., its president, Yvon Charbonneau, and its representative, André Cloutier, to cease any activity in respect of a transaction in securities. These cease trade orders are still in effect.

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

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