Decisions and Freeze and cease trade orders Securities

Montréal – Québec Superior Court Judge André Vincent has reduced the sentence imposed on Vincent Lacroix from 12 years less a day to 8 1/2 years. The Autorité des marchés financiers (AMF) argued in favour of maintaining the sentence and is currently considering an appeal before the Québec Court of Appeal.

In his ruling, Judge Vincent maintained the principle of consecutive sentences but did not apply it to all of Vincent Lacroix's convictions.

Protecting the interests of the victims in this matter continues to be the AMF's priority. It therefore hopes to be able to carry on with a suit on behalf of defrauded investors. The suit would enable investors to eliminate legal fees, save time and benefit from expertise.

On December 11, 2007, Judge Claude Leblond found Vincent Lacroix guilty on the 51 charges brought against him by the AMF on March 9, 2006. In January 2008, the Judge ordered him to serve a sentence of 12 years less a day.

The ruling handed down by Judge André Vincent is available on the AMF website, under Current Issues/Norbourg.

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

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