Solicitation of vulnerable consumers through classified adsProhibitions related to the activities of financière Hélios Capital, Agence Créditis Plus inc. and Altima Environnement Technologie

Decisions and Freeze and cease trade orders Securities

Montréal – The publication of this news release constitutes the method of service authorized by the Bureau de décision et de révision (the “Bureau”) in connection with Decision 2010-018- 001 (pdf - 11 MB)This link will open in a new windowUpdated on May 26, 2010 in respect of Henri Lemieux, Henri Lemieux carrying on business as Financière Hélios Capital and Rémy Pelletier.

On May 26, 2010, at the request of the Autorité des marchés financiers (the “AMF”), the Bureau issued freeze orders as well as orders to cease trading and cease acting as securities advisers in connection with the activities of Financière Hélios Capital, Agence Créditis Plus inc. and Altima Environnement Technologie inc.

More specifically, the Bureau ordered the following persons and companies not to dispose of funds, securities or other assets in their possession and prohibited them from trading in securities and acting as securities advisers:

  • Henri Lemieux
  • Henri Lemieux carrying on business as Financière Hélios Capital
  • Agence Créditis Plus inc.
  • Altima Environnement Technologie inc.
  • 9218-3524 Québec inc.
  • Michel Rolland
  • Alexandre Royer
  • Rémy Pelletier
  • Jeffrey Harris
  • Jonathan Archer
  • Raymond Rivard

In its analysis, the Bureau stated that it was in the presence of promoters who, by means of an advertising campaign in local weekly papers published across Canada, attracted people who had two things in common: They had all accumulated funds in locked-in retirement accounts (LIRA) and they had an urgent need for cash. These vulnerable persons responded to advertisements published in the local media which promised them “Help and Money”, “Financial Help” or “$$Need Money$$”.

The Bureau also stated that Respondent Michel Rolland was the subject of cease-trade and freeze orders in 1997, 2001 and 2002 for activities similar to those which are the subject of this decision.

In its decision, the Bureau added that it was particularly concerned about the following allegations and facts submitted by the AMF:

  • most of the investors who approached the respondents did so because they had an urgent need for cash, which placed them in a vulnerable position and caused them to lower their guard when faced with the respondents’ solicitations;
  • these investors are ordinary people and most of them have little knowledge about investments;
  • Altima did not have solid business activities, no identifiable income, no employees and no business address of its own, but it did have a supplemental pension plan for employees with a registration number from the Canada Revenue Agency. That plan was used as a ruse by the respondents to encourage people to invest in it;
  • the funds belonging to investors which should have been deposited in the pension plan was deposited in Altima’s bank account instead, and the respondents regularly withdrew cash from the account, for their own gain.

This decision by the Bureau stems from a complaint and the investigatory work performed by the AMF.

The AMF reminds consumers to be cautious before withdrawing money from their LIRA, RRSP or pension plan when they are promised cash and investments with high returns, without any tax impact. Such investments can lead to serous financial and tax consequences. Before disposing of their savings in this manner, consumers are encouraged to contact the AMF Information Centre.

The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.

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