June 13, 2012 Securities Decisions and Freeze and cease trade orders

Montréal - The publication of this press release constitutes the method of service authorized by the Bureau de décision et de révision (the Bureau) of a decision related to the matter of Triglobal (2008-004) in respect of Themistoklis Papadopoulos and Mario Bright.

See Decision 2008-004-24 (pdf - 2 MB)This link will open in a new window (in French only).

On June 11, 2012, at the request of the Autorité des marchés financiers (AMF), the Bureau terminated the freeze order initially issued on January 24, 2008 in the matter of Triglobal Capital Management. The order was issued against the following companies and individuals: Themistoklis Papadopoulos, Mario Bright, PNB Management inc. and 2967-9420 Québec inc. The freeze order is no longer necessary since the mandate of the receiver has been completed in this matter and 2967-9420 Québec inc. no longer holds any assets or liabilities.

On December 21, 2007, in accordance with recommendations made by the AMF, the Bureau prohibited Triglobal from carrying out any activity in respect of a transaction in securities regarding any form of investment governed by the Securities Act and from pursuing activities as a securities adviser. Furthermore, several freeze and other orders were issued against Triglobal and related companies and individuals. The investigation by the AMF showed that between 1997 and 2007, Quebeckers had invested several tens of millions of dollars in Focus Management inc. or Ivest Fund Ltd. through representatives, related persons and/or officers of Triglobal.

Jean Robillard of the firm Raymond Chabot Grant Thornton had been acting as receiver in respect of Triglobal since December 24, 2007 further to a recommendation from the AMF and the Bureau and his appointment by the Finance Minister.

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

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