Open in full screen mode The lawsuit includes 13 counts , including that of fraud and illegal exercise of brokerage activity. Radio-Canada The Financial Markets Authority (AMF) is taking legal action against Yanik Guillemette, a businessman from Quebec, and his company Réseau Outgo, which operates in electronic commerce. The lawsuit filed in the Court of Quebec includes 13 counts, including fraud and illegal exercise of brokerage activity. Mr. Guillemette and Outgo allegedly requested placements without the required regulatory authorizations, specifies the AMF. Let us emphasize that Yanik Guillemette and Outgo have never been registered in any capacity whatsoever with the Authority. In addition, Outgo has never prepared a prospectus subject to approval by the Authority nor benefited from a prospectus exemption for the investments covered by the charges. A quote from Extract from the press release of the AMF The AMF adds on its site that its investigation revealed that Yanik Guillemette had full control of ;Outgo, a company that allowed partners to offer gifts and experiences to consumers. He would have sought sources of financing for Outgo, among other things by publishing advertisements on a business buying and selling website.
By Teilor Stone
Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116