The Autorité des marchés financiers (AMF) has announced $500,000 in fines for a man, and several companies, accused of illegal securities dealing.
The AMF reports that Justice Denis Mondor of the Court of Québec confirmed a settlement agreement, and fined Denis St-Laurent, and three companies, Vision Denstar inc., DSTL Capital Inc. and 9141-7196 Québec Inc., a total of $504,000.
They were facing 96 counts primarily for illegal activities as a securities dealer and the illegal distribution of securities.
The regulator alleges that St-Laurent found victims through an online dating site where he organized dinners for singles. Then, at these dinners, he talked up various investment projects he was involved in. As a result, it says that, from April 2000 to January 2008, around 15 people invested over $150,000 in shares of his companies; ultimately losing a total of $130,600.