IAB updates > March 15 2012 which is possible, the latest update from the AMF suggests that the AMF investigation continues and that the the "blocage" on Amyot and Hilbroy remains in force for another 120 days.
The francophones among you can fill your boots here:
http://www.lautorite.qc.ca/files/pdf/bulletin...12_2-2.pdf
For the rest of you, here's a rough translation of two of the most important excerpts:
"A hearing was held March 13, 2012, in the presence of counsel for the parties. Counsel for the AMF heard the testimony of one of its investigators. The witness mentioned that the reasons for the initial order of the Bureau still exist, the investigation of the Authority, which continues, corroborating these reasons.
Counsel for the respondents [Amyot] reported that customers agree to the extension of the blocking order of the AMF. ......
DECISION
Therefore, considering the testimony heard that the initial reasons [for investigating the parties] still exist, the fact that the investigation continues and the consent of the Respondents at the hearing on March 13, 2012, theBureau decision and overhaul, under section 250 of the Securities Act and
Article 93 of the Act on Financial Markets Authority:
ORDERS Tips Hilbroy inc. and Jean-Francois Amyot not to withdraw funds, securities or other assets they have on deposit with the Royal Bank of Canada,
not to dispose of the funds, securities or other property, it has on deposit or under its custody or control on behalf or on behalf of the respondents Tips Hilbroy inc. and Jean-François Amyot, except for checks issued before November 19, 2011;
It should be noted that this order does not affect orders made by the decisions of 11 July and 21 November 20 115 20 116. This Order comes into force immediately and will remain for a period of 120 days, pursuant to section 250 of the Securities Act, unless it is amended or repealed before the end of this term."
Plus ça change, plus c'est la même chose.
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> July 21, 2011 ORDERS TO CEASE TRADING AND SHUT DOWN WEBSITE - (repost)
http://www.lautorite.qc.ca/files/pdf/salle-de...-neuro.pdf
Alleged market manipulation
ORDERS TO CEASE TRADING AND SHUT DOWN WEBSITE
Montréal, July 21, 2011 – At the request of the Autorité des marchés financiers (the “AMF&rdquo
, the Bureau de décision et de révision (the “Bureau&rdquo issued a decision on July 11, 2011 prohibiting, in particular, any transaction in the securities of Wanderport Corp. and Neuro-Biotech inc., due to alleged market manipulation.
More specifically, under this decision, Wanderport Corp., 65705442 Canada inc., Conseils Hilbroy inc . and their officers, directors and employees, as well as Jean-François Amyot , Andrea Cortellazzi and Andrew Barakett are prohibited from carrying out transactions in the security of Wanderport Corp.
The Bureau also ordered Neuro-Biotech inc., its officers, directors and employees, as well as Andrea Cortellazzi and Serge Ollu to cease carrying out any transaction in the securities of Neuro-Biotech inc.
In addition, the Bureau ordered IAB Média inc. to shut down the website “ itsallbull.net ,” which was used to promote the securities of Wanderport Corp. The Bureau’s analysis showed the complexity of this matter. “What we have here is a case of market manipulation involving numerous individuals. Over the years, their tactic was to promote the securities of some of the corporate respondents in order to pump up the value. They then sold their securities and pocketed the profits generated by the inflated price,” stated the Bureau.
Serge Ollu and Andrea Cortellazzi face, respectively, 33 and 6 counts of illegal practice as a dealer and illegal distribution in the matter of Ressources minières Andréane. Fines of $404,000 and $56,000 respectively are sought.
The publication of this press release constitutes the method of service authorized by the Bureau of a decision issued on July 11, 2011 pertaining to the following individuals and companies: Andrea Cortellazzi, Xavier Demontigny, Jacques Vallée, Excel Gold Mining inc., 9157-0945 Québec inc., 9198-6208 Québec inc., Proactive Computer Services, Neuro-Biotech inc. and Wanderport Corp. Decision 2009-026-001 is attached to this press release and is also available on the AMF website (in French only) at http://www.lautorite.qc.ca/en/news-2011-pro.html under News.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight
http://www.lautorite.qc.ca/files/pdf/salle-de...-neuro.pdf
courtesy of Lexit thanks Brad S for the heads up
This same group has been involved in market manipulation for years. I know it may be overly wishful thinking, but hopefully this will kick start some more litigation against that crew and the investigation will be expanded to include the dozens of other companies and people that have been involved with IAB Media Inc and its control person, Jean-François Amyot, and this criminal enterprise will be shut down for good. They have been allowed to freely manipulate penny stocks and profit from their crimes for far too long.
