25 October 2018 13:30
The call of Lino P. Matteo, ex-director of Mount Real, ordered to pay fines totalling $ 4 910 000 $ and a maximum term of imprisonment of five years less a day, was rejected by the honourable François Dadour, judge of the superior Court of Quebec.
“The dismissal of the appeal, Mr. Matteo puts an end to the criminal procedures that we have instituted in the wake of the debacle of the corporation Mount Real. We are very satisfied with this outcome, and more particularly to the hundreds of people who have been victims of this fraud complex, ” said Louis Morisset, president and ceo of theAutorité des marchés financiers.
Mr. Matteo had been convicted of a total of 270 charges under the securities Act. The first-instance judgment has been rendered in the fall of 2017 by the honourable Hélène Morin, judge of the Court of Québec.
He was found guilty of having helped, by act or omission, Mount Real Corporation to “present false or misleading information likely to affect the value or price of securities, or to provide false or misleading information” (75 heads).
It has also been found to have helped companies Real Vest Investments , and Mount Real Acceptance Corporation to “conduct the placement of a shape investment subject to the application of the securities Act, without having established prospectus submitted to the visa of the Commission des valeurs mobilières du Québec or of the Autorité des marchés financiers and received an exemption” (195 heads)
The folder Mount Real
In September 2008, the financial markets Authority had filed a criminal complaint before the Court of Quebec, against five leaders who have acted at different levels in the folder of Mount Real Corporation and its subsidiaries, for a total of 682 counts. In addition to Mr. Matteo, the Authority has laid charges against Paul D’andrea, Joseph Pettinicchio, Laurence Henry and Andris Spura.
In December 2005, the Authority had conducted searches at eight places related to the Group Mount Real, which brings together more than 120 companies. In the context of these searches, the Authority has proceeded to the seizure of over 350 boxes of documents and computer equipment, and electronics, representing more than 41.5 gigabytes in total.