Decisions and Freeze and cease trade orders
Pierre Jolicoeur, director of B.M.T. 06 Capital Corporation, was sentenced to six and a half years in prison today at the Saint-Joseph-de-Beauce courthouse. In April 2013, he pleaded guilty to 59 charges of fraud, fraud against creditors, obstructing justice and money-laundering. Investors lost close to $7,000,000.
The Autorité des marchés financiers (the AMF) intervened in this matter for the first time in July 2010 when it asked the Bureau de décision et de révision (the Bureau) to freeze all of Pierre Jolicoeur's property and order him to cease any activity in respect of securities. In April 2011, the AMF intervened again to freeze the proceeds of the illegal sale of property belonging to Pierre Jolicoeur.
In June 2011, the financial market crime unit of the Sûreté du Québec, made up of members of the Sûreté du Québec and the AMF, arrested Pierre Jolicoeur This link will open in a new window [press release in French only] and conducted searches in the Saint-Joseph-de-Beauce region.
Pierre Jolicoeur illegally offered services as a securities dealer and adviser to several investors primarily from the Beauce and Québec City regions without being registered with the AMF, promising investors impressive returns of 15 to 30% per year. The investigation conducted by the AMF and the Sûreté du Québec shows that Pierre Jolicoeur misappropriated part of the sums paid by the investors, i.e. over $2,000,000.
The freeze and cease trade order issued in 2010 is still in effect and the AMF is working with the Director of Criminal and Penal Prosecutions to pursue this matter.
Are you vulnerable to fraud?
The AMF offers advice and several tools to help consumers protect themselves against fraud. One of its guides suggests 5 simple steps to detect possible fraud.
If you believe you have been the victim of fraud, don't hesitate to report it to the AMF!