The Autorité des marchés financiers (AMF) is warning investors about purported investment fund manager, Vilaron Corp., and its CEO, Simon Vodovos, soliciting investors online.
The AMF issued the warning Wednesday after its cyber-surveillance uncovered the online solicitations.
The Quebec regulator says that Vodovos claims to be a securities dealer and portfolio manager with various firms, and that he’s CEO of Vilaron, which claims to be an independent investment firm.
However, the AMF says neither Vilaron, nor Vodovos, is registered with it, and neither are authorized to solicit consumers for investment purposes.
The regulator also reports that its investigation found that Vodovos has no academic, or other experience, in investment funds; that he “assumed another identity in order to further his objectives”; and, that Vilaron prepared a prospectus using false information and actively solicited public participation; among other things.
While the allegations have yet to be proven, the AMF is asking the Bureau de décision et de révision to issue orders to cease the solicitation, shut down Vilaron’s website, and to impose penalties of $15,000 on Vodovos and Vilaron for illegal practice and misrepresentations.