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Last Post: 9/26/2014 8:43:57 PM - Followers: 258 - Board type: Free - Posts Today: 0

The crew behind the EGOC scam gets targeted by the AMF:
 

AMF launches penal proceeding targeting market manipulation activities

Published: Sept 9, 2014 11:28 a.m. ET

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MONTRÉAL, Sep. 9, 2014 (Canada NewsWire via COMTEX) -- The Autorité des marchés financiers ("AMF") has launched a joint penal proceeding against 13 defendants (11 individuals and 2 companies) allegedly involved in market manipulation activities that took place between 2008 and 2012 in violation of the Securities Act.

The scam

The defendants took part in a "pump and dump" scam, in which they influenced the market price or the value of microcap securities listed on U.S. over-the-counter markets, including the shares of Spencer Pharmaceutical Inc., Energy 1 Corp., Andes Gold Corporation, Kender Energy Inc. and Wanderport Corporation.

The manipulation methods consisted of promoting the activities or growth potential of the above-mentioned companies via the publication of false and misleading information in press releases, on social media and other on-line channels.

Some of the scammers bet on the ensuing market activity to boost the share value of the target companies before selling their own shares at a hefty profit. The investigation shows that transaction proceeds related to certain violations referred to in the proceedings amount to a total of over $10 million.

The defendants

Jean-Francois Amyot faces 10 charges, of which five pertain to conspiracy to influence or attempt to influence the market price or the value of a security and five relate to market manipulation. Considered the ringleader of the presumed scam, Jean-Francois Amyot was president of Hilbroy Advisory Inc., and a director of IAB Media Inc. These two companies are each charged with market manipulation. Jean-Francois Amyot faces freeze and cease trading orders issued in 2011 in connection with activities related to the securities of Wanderport Corp. and to IAB Media and Hilbroy Advisory.

Francis Mailhot faces eight charges, including three for conspiracy and five for market manipulation. He was president or director of companies allegedly involved in the scam, including Rainmaker Venture Capital Inc. and Hyper Growth Stock Publications Inc. He is also considered Jean-Francois Amyot's business partner.

Ian Morrice acted as consultant for Hilbroy Advisory and faces two charges, i.e. one for conspiracy and the other for market manipulation.

Francois Vallet was involved with IAB Media and Hilbroy Advisory in various capacities. He faces seven charges, including two for conspiracy and five for market manipulation activities.

Eric Boyd also acted as consultant for Hilbroy Advisory and is named in two of the market manipulation activity charges.

Marc Gagnon and Robert Fagan each face one charge for market manipulation.

As well, as an officer of Downshire Capital and Meadow Vista Financial Corporation, Carol McKeown faces a charge for market manipulation. She also faces freeze and cease trading orders issued in 2010.

Daniel F. Ryan, Carol McKeown's spouse, also faces three charges, including two for market manipulation activities and one for conspiracy. He is also subject to the same orders as those against Carol McKeown.

Andrew Barakett faces two charges, one for market manipulation activities and the other for conspiracy. Note that Andrew Barakett faces a cease trading order issued in 2011 for activities related to the securities of Wanderport Corp.

Lastly, Michael Raso Cortellazzi faces one charge for market manipulation activities.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.

Information:

Media only:Sylvain Théberge: 514-940-2176

Information Centre: Québec City: 418-525-0337Montréal: 514-395-0337Toll-free: 1-877-525-0337

www.lautorite.qc.caTwitter: @lautorite

SOURCE Autorité des marchés financiers

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2014/09/c1467.html

SOURCE: Autorité des marchés financiers


 

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#35033  Sticky Note 02-06-14/\i have not seen this removed "CHILL"/\when mentioned mick 02/06/14 03:18:24 PM
#34013  Sticky Note "Opinion only?" sunspotter 04/08/13 03:32:10 AM
#35168   no bid/ ih.advfn.com/p.php?pid=staticchart&s=egoc&p=0&t=17&showctype=1&wi mick 09/26/14 08:43:57 PM
#35167   let´s see what´s going on next days Rocket-Interceptor 09/24/14 09:31:33 AM
#35166   had someone contact to the company last days? Rocket-Interceptor 09/24/14 09:31:00 AM
#35165   Website still active: http://e1corporation.com/ Rocket-Interceptor 09/24/14 09:30:13 AM
#35164   EGOC Security Details Rocket-Interceptor 09/24/14 09:29:37 AM
#35163   i hope the right person fm 09/17/14 01:25:45 PM
#35162   Who is buying these shares ? tusambolo 09/17/14 10:56:59 AM
#35161   I have my 5.000000 :-) fm 09/16/14 02:23:01 PM
#35160   Finally at no bid. pulsecrusher 09/16/14 01:35:01 PM
#35159   Out of the frying pan and into the fire. pulsecrusher 09/10/14 12:01:10 PM
#35158   Sunspotter,I would like to hear your opinion on Hugie 09/10/14 08:37:36 AM
#35157   Looks like the crooks behind the EGOC scam, sunspotter 09/10/14 06:19:49 AM
#35156   yes and yes/ mick 09/09/14 05:16:55 PM
#35155   "should be in grey sheets." sunspotter 09/09/14 08:15:24 AM
#35154   surprised bid ask holding/ should be in grey sheets. mick 09/08/14 07:40:51 PM
#35153   ceo lied lied lied to we shareholders/\ mick 08/29/14 12:50:22 PM
#35152   THEY NEED ALL THE HELP THEY CAN GET. dogplay76 08/29/14 12:46:44 PM
#35151   help wanted sign needed/\ mick 08/26/14 05:16:45 PM
#35150   I thought Raymond took off in one of writeit5 08/10/14 07:45:55 PM
#35149   That would be the pump and dump crew sunspotter 08/08/14 10:05:05 AM
#35148   It comes a no surprise that two of sunspotter 08/07/14 05:50:14 AM
#35147   you had their number early for all/ total mick 08/05/14 03:16:32 PM
#35146   I think we can all now accept that sunspotter 08/05/14 02:37:13 PM
#35145   stockcharts.com/c-sc/sc?s=egoc&p=D&b=2&g=0&i=p94789730081&r=1403705294518 mick 08/05/14 02:29:09 PM
#35144   $EGOC massive volume gain tribunus_scipio 07/27/14 11:14:05 AM
#35143   Watching l2 on this Monday. Could be AmerikanGreed 07/27/14 10:24:08 AM
#35142   Why all the heavy loading Friday? Traded over AmerikanGreed 07/27/14 10:23:39 AM
#35141   Hopefully he can pay company Phone Bill dogplay76 07/25/14 04:20:27 PM
#35140   Thanks. Has Raymond T Brown II told anyone why sunspotter 07/25/14 04:00:31 PM
#35139   Here is the info ginger10 07/25/14 03:57:51 PM
#35138   Yeah it is. pulsecrusher 07/25/14 03:55:40 PM
#35137   "The law suit against Enery1Corp.was dismissed and Raymond sunspotter 07/25/14 03:54:20 PM
#35136   I think it's the company selling to generate ginger10 07/25/14 03:52:55 PM
#35135   Just About ALL OF IT IS SELLS dogplay76 07/25/14 03:46:25 PM
#35134   Holy volume! ! pulsecrusher 07/25/14 03:42:15 PM
#35133   That is not a good thing!!!! It BigMotherTrucker 07/08/14 09:09:13 PM
#35132   "latest update from homepage says now they can sunspotter 07/07/14 05:20:03 PM
#35131   latest update from homepage says now they can fm 07/07/14 05:13:26 PM
#35130   i am surprised bid and ask still available. mick 07/07/14 03:42:17 PM
#35129   Possibly. sunspotter 07/07/14 03:25:35 PM
#35128   winding down/\ egoc mick 07/07/14 03:23:55 PM
#35127   nothing!!! no news? fm 06/29/14 04:19:33 PM
#35126   Any chance of getting out of this POS azjd 06/20/14 01:50:57 PM
#35125   Hey, Raymond T Brown II, how are those sunspotter 06/19/14 06:25:25 AM
#35124   case dismissed. fm 06/15/14 08:18:26 AM
#35123   no trades today. egoc mick 06/13/14 02:46:17 PM
#35122   This garbage hasn't been suspended by the SEC yet? waterchaser 06/06/14 10:06:24 PM
#35121   couple trades today/\ roughly $3,000 mick 06/06/14 06:05:35 PM
#35120   Energy 1 Corp. (PN) (EGOC) cross bones? mick 06/06/14 06:04:13 PM
#35119   it cost $10,000 to get reinstated/\ who's coughing mick 06/06/14 06:03:39 PM
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