Montréal, March 7, 2011 - 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 the following respondents: Themistoklis Papadopoulos, Anthanasios Papadopoulos and Mario Bright.
On March 4, 2011, at the request of the Autorité des marchés financiers (AMF), the Bureau extended for a period of 120 days the freeze order initially issued on January 24, 2008 in the matter of Triglobal Capital Management Inc. against the following companies and individuals: Themistoklis Papadopoulos, Mario Bright, PNB Management Inc., 2967-9420 Québec inc., 4384610 Canada Inc., 4190424 Canada Inc., Angela Skafidas and Anthanasios Papadopoulos.
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 have been 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 has acted 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 ("AMF") is the regulatory and oversight body for Québec's financial industry.
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