The Autorité des marchés financiers reports that a senior executive of Enviromondial Inc. has pleaded guilty to 33 counts of securities law violations.

The charges were brought against Steven Demers by the AMF’s predecessor, the Quebec Securities Commission.

Demers admitted to 11 counts of helping Enviromondial to distribute its shares without the company having a prospectus approved by the commission; two counts of carrying on business as a dealer without being registered; 19 counts of assisting Enviromondial to contravene a decision by the commission prohibiting it from distributing its shares; and, one count of conducting a trade on Enviromondial’s stock.

Judge Denis Saulnier of the Court of Quebec, Criminal and Penal Division, ordered Demers to pay a total fine of $77,000, and gave him 42 months to pay.

The QSC initiated the penal proceedings against Demers on October 7, 2002.