Montréal - On January 18, 2013, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision (the "Bureau") issued a permanent order to cease any activity in respect of a transaction in securities and acting as a dealer against Sunil Tulsiani, Maple Leaf Investment Fund Corporation (MLIF), Henry Joe Chau and Tulsiani Investments. At the same time, the Bureau also denied these respondents the benefit of any exemption under the Securities Act or the regulations thereunder. The same orders were also issued against Ravinder Tulsiani, but for an eight-year period.

These orders are further to two decisions rendered by the Ontario Securities Commission (OSC) in the same matter.

In this case, the respondents promoted MLIF financial products through various advertisements, seminars and through employees or telemarketers claiming high interest investment returns, low risk and guaranteed income in connection with various real estate projects, including a condo-hotel project in Curaçao.

Four series of MLIF bonds were sold to 80 investors, including two from Québec, for a total of $4,475,000. None of the respondents was registered with the OSC or the AMF and no receipt for a prospectus was issued.

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

- 30 -

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
www.lautorite.qc.ca
Twitter : @lautorite This link will open in a new window

Additional news

• October 17, 2012 Notice of hearing - Maple Leaf Investment Fund Corp. et al. in respect of the respondent Ravinder Tulsiani
• July 4, 2012 Proposed acquisition of TMX Group Inc. by Maple Group Acquisition Corporation - AMF issues decision regarding CDS
• May 3, 2012 Proposed acquisition of TMX Group by Maple Group Acquisition Corporation - AMF issues certain decisions and launches consultation on CDS
• March 15, 2012 Proposed Acquisition of TMX Group Inc. - AMF intends to approve Maple application
• October 20, 2011 Proposed Maple Group Transactions - AMF public hearings scheduled for November 24 & 25, 2011
• October 7, 2011 Maple Application Filed and AMF Public Consultations Launched
• June 30, 2011 Proposed transaction between TMX Group and LSEG - Public consultation and hearings cancelled
• May 13, 2011 Proposed transaction between TMX Group and London Stock Exchange Group PLC - Application Filed And AMF Public Consultations Launched