Montréal - The Autorité des marchés financiers (the AMF) has launched a penal proceeding in the district of Saint-Maurice and filed 19 charges against Tuteur Modulaire J. C. Inc. and its two shareholders and officers, Jocelyn and Claude Lapierre,1 for illegal practice as a dealer and making distributions without a prospectus. It is seeking $125,000 in fines.
The Lapierre brothers allegedly approached investors who gave them money in the form of cheques or cash to purchase shares of Tuteur Modulaire. The modular structure for staking plants, which was to provide additional support for branches and leaves and included a lighting system, was never produced. At least four investors lost a total of approximately $97,000.
Reminder to investors
In its most recent awareness campaign, 5bonnesquestions.ca This link will open in a new window, the AMF reminds consumers that it is important to obtain a detailed document before making any investment. That document should discuss the risks related to the proposed investment, whether you will have access to your money and if so, on what terms, and what costs are involved. To check whether the document you receive is authentic, you may wish to contact an agent at the Information Centre or visit Sedar.com, a website containing information required by regulatory organizations such as the AMF.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514 940-2176
Québec City: 418-525-0337
1 Not to be confused with Insurance of Persons Representative and Group Insurance Representative Claude Lapierre, who holds certificate 119225, or with independent Insurance of Persons Representative Claude Lapierre, who holds certificate 119226.