Montréal - On October 9, 2013, before Justice of the Peace Gaétan Ratté of the Court of Québec, Tuteur Modulaire J.C. inc. ("Tuteur Modulaire") and its officers, Jocelyn and Claude Lapierre, pleaded guilty to 19 charges filed against them for illegal practice as a dealer and making distributions without a prospectus. Justice Ratté accepted the joint suggestion of the parties regarding the penalty, namely, a total of $119,750 in fines.
More specifically, Jocelyn Lapierre pleaded guilty to nine counts for aiding Tuteur Modulaire to make illegal distributions and illegal practice as a dealer. He was fined a total of $58,000. Claude Lapierre pleaded guilty to five counts for aiding Tuteur Modulaire to make illegal distributions and illegal practice as a dealer. He was fined a total of $36,750. Lastly, Tuteur Modulaire pleaded guilty to five counts for making illegal distributions. It was fined a total of $25,000.
In this matter, the Lapierre brothers solicited four investors, who lost a total of $97,050.
Reminder to investors
The AMF reminds consumers that it is important to obtain a detailed document before making any investment. To learn more about how to protect yourself against fraud, read Your personal anti-fraud guide.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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