The Autorité des marchés financiers reports that it has filed 619 charges against individuals involved with Mount Real Corp. and its affiliates.

The AMF initiated penal proceedings in the Court of Quebec (Criminal and Penal Division) against 24 individuals involved at various levels in the matter of Mount Real and its affiliates.

The long list of charges includes: acting as a dealer or adviser without being registered with the AMF; assisting, by act or omission, the various firms with the distribution of promissory notes without a prospectus approved by the AMF; and, making misrepresentations to investors.

None of these allegations have been proven.

If found guilty by the Court of Quebec, these individuals are liable to fines ranging from $1,000 to $15,000 for each offence, for a total amount of $4,219,000.