The Autorité des marchés financiers (AMF) has launched a criminal proceeding against a man they allege helped two companies make illegal investments.
The AMF alleges that Serge Guertin aided the firms Corporation financière de la Montérégie and Centre de gestion et de placements S.G. inc. in making illegal distributions and illegally acted as a securities dealer on 11 occasions. The AMF further alleges that he made misrepresentations with respect to securities on four occasions by telling certain investors that their investments were guaranteed. The AMF is seeking $258,000 in fines.
The AMF is seeking fines that are three times the minimum fine set out in the Act for exemplary reasons. As aggravating factors, it took into account Serge Guertin’s professional status and the harm caused to the victims.
The AMF’s investigation showed that seven investors invested approximately $475,000 with Serge Guertin. Only two investors have recovered their invested capital.