Yes, moving forward - News from La Presse
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PUBLICATION: La Presse
DATE: 2014.05.15
SECTION: La Presse Affaires
PAGE: LA PRESSE AFFAIRES / FRONT
BYLINE: Francis Vailles
A network with global tentacles
The Autorité des marchés financiers (AMF) has discovered an incredible network of market manipulation with tentacles around the world, but whose roots are in Montreal. New York , Boston , Kuwait, Panama , the network seems to have sitting around.
The description of the organization is in a summary investigation that La Presse obtained after three years of court actions . The document describes in detail what is generally called a " pump & dump " or swabbing of shells stock through false news.
The orchestra leader of the organization is Montreal's Jean -François Amyot . Financial and business IAB Media Tips and Hillbroy specialize in the promotion of several small cap stocks , generally on an exchange outside U.S. or Canadian number.
The query obtained by La Presse was sealed for three years. It sought to convince the court to block the accounts and transactions of a dozen companies and individuals. Among them , we find Jean- Francois Amyot, but Andrea Cortellazzi and Serge Ollu , as well as businesses and Neuro- Biotech Wanderport . The court called Office decision and overhaul ( BDR ) , gave blocking in December 2011.
The AMF investigation focuses specifically on Spencer Pharmaceutical company , incorporated in Delaware. For this single company, the AMF considers that the organization of Jean- Francois Amyot has reaped illegal profits of $ 4.1 million in a few months in 2010, at the expense of small investors.
UQAM
To achieve their goals , Amyot and his cronies have used a particular researcher in biotechnology, Max Arella , and the name of the institution or the University of Quebec at Montreal (UQAM) . At the time of going to press, the spokesman of UQAM, Jenny Desrochers, was not able to comment on the situation. We could not reach Mr. Arella , to work today for the INRS.
By doing a search , MFA has found the plan several statements , prepared in advance , which were used to promote the title. Bogus ads, spread over 16 weeks , were scattered by the IAB firm on its network of 350,000 emails from investors, more than 200 000 members Facebook and Twitter.
The lawyer representing Jean- Francois Amyot is Marc- André Boutin, the firm Davies Ward Phillips & Vineberg . By mid- afternoon yesterday, he always said to represent Mr. Amyot and do not want to comment . However , in the late afternoon, he reminded us to tell us he had joined Mr. Amyot, but the latter told him that he was no longer her lawyer. We were unable to join the new counsel for Mr. Amyot, United States .
Moreover, it was not possible to know if the RCMP and the SQ is conducting a criminal investigation into the case. However, the Securities & Exchange Commission ( SEC) of the United States, during the AMF is investigating.
La Presse link:
http://affaires.lapresse.ca/dossiers/litiges-economiques/201405/15/01-4766896-lamf-a-decouvert-un-reseau-aux-tentacules-mondiaux.php
Not online, in printed version of La Presse
Online Translation:
Dozens of fake press releases
Market manipulation disclosed in the Financial Markets Authority (AMF) began in spring 2009. And it would have enabled its promoters to make a profit of 4.1 million in a few months.Through one of his companies , financial Jean- Francois Amyot then took control of a market shell, which he named Spencer Pharmaceutical. Spencer then gave the mandate to one controlled by Amyot , IAB Media companies , lather the title.To make this work , IAB received 24 million shares , which is then worth a few cents each. Many of these shares will be purchased gradually by two funds controlled by Amyot and Panama baptized Cunningham Adams Group of Funds . It is from this tax haven Panama Amyot make its profits, according to the document of the AMF.In November 2009, Spencer concludes a research agreement with Max Arella and Mircea -Alexandru Mateescu , researchers in biotechnology at UQAM. Spencer says that specializes in supporting neurological diseases such as Alzheimer sector and Parkinson's . The facts related by the AMF suggest that Mr. Arella and UQAM were used .The real swabbing title starts in June 2010. Between June and December , the company will issue 48 releases announcing sensational news that reveal most false , according to the AMF.At the end of June 2010 , Spencer argues in a statement that it has signed an agreement with the research center at UQAM , while the agreement was signed seven months earlier . In several releases that follow, Spencer repeats the name of UQAM and even registered the university logo on its website , while the establishment prohibits such practices.August 24, 2010 , Spencer announces remarkable research center at UQAM results. IAB Media massively then communicates the new investors , including on its website itsallbull with its bullish impact on the title. However, the ad is false , according to subsequent verifications What made ??the AMF at UQAM.Between October and December 2010, the ads are almost daily . For example, on October 21 and November 1 , Spencer announces the certification of an ethical organization and an association with a pharmaceutical company . However, these two seemingly independent organizations are controlled by Amyot .In the first weeks , the funds held in Panama Amyot , Cunningham, acquire shares , making up each time the title of a few cents. Transactions Cunningham sometimes represent more than 50 % of the volume of a day. IAB argues its members that the investors as racing, to buy.An offer of 245 millionIt is from November 4 that the title really starts to soar. Spencer then announces she has received an offer of 245 million . The details are revealed in dribs and drabs over the next few days, exciting investors.At first it is a question of a Russian firm , then learns, November 16 , it is the company Al -Dora , presented as the firm a wealthy family of Kuwait. The AMF could not trace the existence of this company.The group representative is Hussain Al- Awaid , a man who also said vice -president of the Canadian Commercial Group company . He had also come to the Mount Stephen Club in Montreal . " However, the RCMP laid 53 charges against Canadian Commercial Group for fraud in connection with illegal immigration ," said the AMF.In the wake of the announcement of the offer of 245 million , the track climbs quickly, sometimes by 46% in one day. The company Amyot Panama the opportunity to sell without some $ 500,000 per day .To realize the pseudo- transaction, Spencer announces that a deposit of $ 500,000 will be made in his account shortly. A transfer was actually made ??in early 2011, but the AMF discovered he had a controlled again by Amyot society.In total, firms Amyot in Panama r ? Alisé a profit of 4.1 million with this single case.
Original French Text:
PUBLICATION: La Presse
DATE: 2014.05.15
SECTION: La Presse Affaires
PAGE: LA PRESSE AFFAIRES
BYLINE: Francis Vailles
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Des dizaines de communiqués bidon
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La manipulation boursière décrite dans le document de l'Autorité des marchés financiers (AMF) a débuté au printemps 2009. Et elle aurait permis à ses instigateurs de réaliser un profit de 4,1 millions en quelques mois.
Par l'entremise d'une de ses entreprises, le financier Jean-François Amyot a alors pris le contrôle d'une coquille boursière, qu'il a nommée Spencer Pharmaceutical. Spencer a ensuite donné le mandat à l'une des sociétés contrôlées par Amyot, IAB Media, de faire mousser le titre.
Pour faire ce travail, IAB a reçu 24 millions d'actions, qui ne valaient alors que quelques cents chacune. Plusieurs de ces actions seront rachetées petit à petit par deux fonds du Panama contrôlés par Amyot et baptisés Cunningham Adams Group of Funds. C'est depuis ce paradis fiscal du Panama qu'Amyot fera ses profits, selon le document de l'AMF.
En novembre 2009, Spencer conclut une entente de recherche avec Max Arella et Mircea-Alexandru Mateescu, des chercheurs en biotechnologies à l'UQAM. Spencer se dit spécialisée dans le secteur porteur des maladies neurologiques comme l'alzheimer et le parkinson. Les faits relatés par l'AMF semblent indiquer que M. Arella et l'UQAM ont été utilisés.
Le véritable pistonnage du titre commence en juin 2010. Entre juin et décembre, l'entreprise publiera 48 communiqués annonçant des nouvelles sensationnelles qui se révèlent pour la plupart fausses, selon l'AMF.
A la fin de juin 2010, Spencer soutient dans un communiqué qu'elle vient de conclure une entente avec le centre de recherche de l'UQAM, alors que l'entente a été conclue sept mois plus tôt. Dans plusieurs des communiqués qui suivent, Spencer répète le nom de l'UQAM et inscrit même le logo de l'université sur son site internet, alors que l'établissement interdit ces pratiques.
Le 24 août 2010, Spencer annonce des résultats remarquables à son centre de recherche de l'UQAM. IAB Media communique alors massivement la nouvelle aux investisseurs, notamment sur son site internet itsallbull, avec ses effets haussiers sur le titre. Or, l'annonce est fausse, selon les vérifications ultérieures qu'a faites l'AMF auprès de l'UQAM.
Entre octobre et décembre 2010, les annonces sont presque quotidiennes. Par exemple, le 21 octobre et le 1er novembre, Spencer annonce la certification d'un organisme éthique et une association avec une société pharmaceutique. Or, ces deux organismes en apparence indépendants sont contrôlés par Amyot.
Dans les premières semaines, les fonds que détient Amyot au Panama, Cunningham, acquièrent des actions, faisant chaque fois monter le titre de quelques cents. Les transactions de Cunningham représentent parfois plus de 50% du volume d'une journée. IAB fait valoir à ses membres investisseurs que le titre s'emballe, qu'il faut acheter.
Une offre de 245 millions
C'est à partir du 4 novembre que le titre se met véritablement à monter en flèche. Spencer annonce alors qu'elle vient de recevoir une offre de 245 millions. Les détails sont révélés au compte-gouttes au cours des jours suivants, excitant les investisseurs.
Au début, il est question d'une firme russe, puis on apprend, le 16 novembre, qu'il s'agit de la société Al-Dora, présentée comme la firme d'une famille riche du Koweït. L'AMF n'a pu retracer l'existence de cette société.
Le représentant du groupe serait Hussain Al-Awaid, un homme qui se dit également vice-président de la société Canadian Commercial Group. Il devait d'ailleurs venir au Mount Stephen Club, à Montréal. «Or, la GRC a déposé 53 chefs d'accusation contre Canadian Commercial Group pour une fraude en lien avec l'immigration illégale», précise l'AMF.
Dans la foulée de l'annonce de l'offre de 245 millions, le titre grimpe rapidement, parfois de 46% en une journée. La société d'Amyot au Panama en profite pour vendre, à coup de quelque 500 000$ par jour.
Pour concrétiser la pseudo-transaction, Spencer annonce qu'un dépôt de 500 000$ sera fait dans son compte incessamment. Un virement a effectivement été fait, au début de 2011, mais l'AMF a découvert qu'il venait d'une société contrôlée, encore une fois, par Amyot.
Au total, les firmes d'Amyot au Panama ont r?alisé un profit de 4,1 millions avec cette seule affaire.
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