Montréal - On October 8, 2014, Justice of the Peace Louis Duguay of the Court of Québec, district of Joliette, found Raphaël Huppé guilty of 60 offences related to illegal distribution of the securities of Effective Control Transport inc.
More specifically, Raphaël Huppé was found guilty on 20 counts of illegal distribution without a prospectus, 20 for pursuing activities as a securities dealer without being registered as such with the Autorité des marchés financiers (the "AMF"), 19 charges for representing to investors that the securities of Effective Control Transport inc. would be listed on a securities exchange without prior authorization from the AMF, and one charge of making misrepresentations in respect of a transaction in a security.
The AMF's investigation showed that between June 2008 and June 2010, Raphaël Huppé illegally encouraged investors to purchase securities of Effective Control Transport inc. and/or Corporation Axyomm Technologies and WESPP International/Corporation Vida Pharma International for an amount of $740,000.
Raphaël Huppé should be sentenced on January 15, 2015.
In this same matter, WESPP International/Corporation Vida Pharma International was found guilty on one count of making an illegal distribution and fined $5,000.
The AMF applied to the Bureau de décision et de révision in the summer of 2010 in this matter and obtained cease and freeze trade orders to prevent further solicitation of investors.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176