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The crew behind the EGOC scam gets targeted by the AMF (and by the SEC):
 

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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#34013  Sticky Note "Opinion only?" sunspotter 04/08/13 03:32:10 AM
#35235   An interesting product? Looking for USA Distributor. realwill 07/12/15 07:44:20 PM
#35234   Has any seen proof on concept of this BigMotherTrucker 07/11/15 10:05:57 AM
#35233   That is for the Exhaust MUFFLER, not the BigMotherTrucker 07/11/15 10:02:51 AM
#35232   He does own the patent. He just posted dcsteve 07/11/15 01:54:44 AM
#35231   Well he would have to own the Patent BigMotherTrucker 07/11/15 01:25:18 AM
#35230   Hi Ray, dcsteve 07/10/15 06:02:28 PM
#35229   Ginger, That all depends on the lender's lawsuit. RaymondBrown 07/10/15 03:43:32 PM
#35228   Raymond...will the company come back. Are you working ginger10 07/10/15 02:13:42 PM
#35227   LOL! sunspotter 07/10/15 03:40:42 AM
#35226   Sun, Yeah, I guess he was a bad guy. RaymondBrown 07/10/15 01:06:06 AM
#35225   Where is the volume coming from and why tusambolo 06/30/15 06:49:21 PM
#35224   An article on everyone's favorite crook, the founder sunspotter 06/25/15 08:35:04 AM
#35223   Long time ago I thought you were full tusambolo 06/11/15 12:51:07 PM
#35222   "Only if EGOC was not bs" sunspotter 06/11/15 03:33:24 AM
#35221   Only if EGOC was not bs could get tusambolo 06/10/15 07:08:17 PM
#35220   A friendly broker might help buy from a sunspotter 06/04/15 10:44:05 AM
#35219   who buy 1000 of this ... fm 06/04/15 10:18:59 AM
#35218   How's that EGOC uplisting going, Bennie? sunspotter 06/01/15 04:03:21 AM
#35217   5M hit at .0001 ? Anything ca happen tusambolo 05/27/15 04:11:44 PM
#35216   How's that EGOC uplisting going, Bennie? sunspotter 04/24/15 07:06:37 PM
#35215   How's that EGOC uplisting going, Bennie? sunspotter 04/24/15 07:06:29 PM
#35214   you mean asian people? mick 02/25/15 01:13:50 PM
#35213   Indeed. Interesting to see the RCHA scam using sunspotter 02/25/15 01:03:37 PM
#35212   ceo's lies cooked egoc mick 02/25/15 01:01:16 PM
#35211   dunno how he getz to stay outside the pen. mick 02/15/15 04:02:23 PM
#35210   One day EGOC founder Jean-François Amyot will end sunspotter 02/13/15 04:50:05 PM
#35209   Energy 1 Corp. (PN) (EGOC) mick 02/13/15 02:42:30 PM
#35208   Energy 1 Corporation (EGOC) mick 02/13/15 02:41:58 PM
#35206   i think egoc should be greysheeter. mick 01/27/15 03:27:45 PM
#35205   And even then it's overvalued. sunspotter 01/27/15 03:22:28 PM
#35204   6 places/ 0.000001 EGOC Energy 1 Corporation mick 01/27/15 03:15:08 PM
#35203   i believed when ceo extend extend extend and mick 01/12/15 07:56:08 PM
#35202   "this ceo is like many said not sharp sunspotter 01/12/15 03:39:35 PM
#35201   this ceo is like many said not sharp mick 01/12/15 12:49:29 PM
#35200   "The homepage has been suspended" sunspotter 01/10/15 03:57:45 AM
#35199   The homepage has been suspended fm 01/08/15 03:52:24 PM
#35198   cheap. 0.000001 ? -0.000099 (-99.00%)/ Energy 1 Corp. mick 01/03/15 04:05:00 PM
#35197   EGOC Energy 1 Corporation 35,196 mick 01/03/15 04:03:43 PM
#35196   "There is another case active besides this old sunspotter 12/23/14 11:00:33 AM
#35195   There is another case active besides this old azjd 12/22/14 05:28:34 PM
#35194   http://e1corporation.com/case-dismissed/ Case Dismissed brunners 12/22/14 01:15:51 AM
#35193   is this delisted yet? egoc mick 12/14/14 07:18:31 PM
#35192   "will ceo ever fest up to facts he lied?" sunspotter 12/06/14 01:05:38 PM
#35191   will ceo ever fest up to facts he lied? mick 12/06/14 10:29:15 AM
#35190   THIS????? THERE WASN'T ANY THANKSGIVING FEAST BUT CEO mick 12/01/14 02:13:12 PM
#35189   no in reality i see none by this mick 11/26/14 09:45:32 AM
#35188   thank you for this update/\ happy thanksgiving/\ mick 11/26/14 09:43:56 AM
#35187   EGOC'c founder, and the man pulling Raymond T sunspotter 11/26/14 08:09:58 AM
#35186   sounds good, from where do you know? Rocket-Interceptor 11/26/14 07:10:07 AM
#35185   "Reinstatement" of what exactly, Mick? The real controller of sunspotter 11/26/14 02:47:55 AM
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