August 21, 2017 13:30
Photo : Freepik
On march 3, 2017, François Simard has imposed fines totalling 1 314 000 $ (to 1.31 M$) by the Court of Quebec in Montreal, because of breaches of the securities Act. This decision was in response to a criminal prosecution instituted in 2013 by thefinancial markets Authority against François Simard, Stéphane Valois and Monique Langelier.
The judge Claude Leblond said François Simard guilty of 89 counts of the indictment filed against him by the Authority, or 87 leaders for helping to make investments without a prospectus, and 2 heads of obstructing the work of the investigators of the Authority. The judge Leblond has condemned François Simard to a fine of $ 15 000 per head of placement without a prospectus, and fines of $ 6,000 and $ 3,000 for heads obstacle, for a total of 1.31 M$.
In the same folder, Stéphane Valois, was to impose fines totalling $ 100,000 after pleading guilty to 14 of the 15 counts filed against him by the Authority, while Monique Langelier has been acquitted of 3 counts of the indictment that had been filed against it.