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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.
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