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Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Canadian Press says Benoit Laliberte convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
The SEC does and will act on such violations and likely just a matter of time!
To predict UAMA future look at past FAILS!
Rich history of failures at UAMA et al:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
- Rumored end to anti-trust litigation against Bitmain et al, predictably failed
Mr. Benoit Laliberte has never built a business of lasting value. He's been found guilty of 44 counts of stock fraud, market manipulation and deceiving investors.
Assume UAMA dead. No upside!
Laliberte has failed to build any business of lasting value.
That and his convicted criminal status is a harbinger of the future for UAMA.
UAMA a total FAILURE, no UPSIDE!
No Pink disclosures or financials for over a year!
Even the BS press releases have stopped.
Plenty to report though:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
- Rumored end to anti-trust litigation against Bitmain et al, predictably failed
Absolutely no evidence of any UPSIDE for UAMA.
BS posters morally bankrupt. UAMA is DEAD!
Yep UAMA crushed, Bitcoin going strong!
UAMA CEO fraudulent misrepresentation in 2019 filings.
To the question of "prior convictions" in past ten (10) years, Mr. Laliberte answered "NO" in Pink disclosure of 2019.
The evidence is clear. Mr. Benoit Laliberte was convicted on 44 counts of stock fraud, market manipulation and deceiving investors.
Formal complaints have been filed and being pursued with SEC. It will likely end up like Brooks v SEC with fines and banned from any future public company involvement.
UAMA a total FAILURE, MMs only!
No Pink disclosures or financials for over a year!
Even the BS press releases have stopped.
Plenty to report though:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
- Rumored end to anti-trust litigation against Bitmain et al, predictably failed
Absolutely no evidence of any UPSIDE for UAMA.
Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Canadian Press says Benoit Laliberte convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
The SEC does and will act on such violations and likely just a matter of time!
Court records state, UAMA CEO is undischarged bankrupt. Quote:
Mr. Laliberte is said to have been an undischarged bankrupt in Canada for over ten (10) years! Evidence can be found in testimony before the Supreme Court of British Columbia.
UAMA and Benoit Laliberte FAILURE to properly disclose material information on PERSONAL BANKRUPTCY to investors, SEC filings and Pink Disclosure documents. Court evidence in CCAA Proceedings said the following:
49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation
Caveat Emptor - CAVEAT EMPTOR
Just BS. Show me the revenue/earnings!
UAMA is DEAD!
OTC Markets labels it as "Dark or Defunct"
Though COMPLICIT POSTERS who are likely frauds themselves continue to PUSH THIS PIG!
Benoit Laliberte, UAMA CEO delivers mediocrity and fraud.
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with an unremarkable track record. Predictably the past is the best clue to the future of UAMA and it is bleak!
Ignorance of wireless industry appalling at UAMA.
TNW WIreless network has been INOPERATIVE for years now and is clear proof that the business has failed. No subcribers, no roaming agreements and by definition NO REVENUE from wireless.
RuralCom was "market ready" when Investel bought it in a share exchange. Had a functional network (3G) roaming agreements with all the major US carriers and RuralCom CEO had funding commitments to go 4G and further buildout.
The vetted business plans clearly showed how the business could be quickly built to $40-$80M in annual revenue with 40-60% EBITDA.
Laliberte, UAMA CEO spurned the opportunity, fired the RuralCom CEO and attempted an end-run with the sources of capital. Needless to say they weren't impressed by Mr. Laliberte, his knowledge of the wireless industry or his convictions for stock fraud, market manipulation and deceiving investors.
Over the years, Mr. Laliberte has proven a propensity to deal in fraud. He has failed to build any business of lasting value and this is highly predictive of a bleak future for UAMA.
TNW Wireless $300M market cap and NASDAQ listing?
TNW Wireless Inc. could be a successful cellular telephone company operating in rural Canada and generating $40-80M today with 40-60% EBITDA. Instead of using RuralCom CEO (renamed as TNW Wireless Inc) and his documented financial support from institutional investors, Laliberte chose to follow his ego, fired the RuralCom CEO and closed the door to institutional investment. Needless to say when Laliberte, UAMA CEO approached those same institutional investors they showed him the door!
Not sure why Laliberte bought RuralCom in the end as he didn't even give the RuralCom CEO the opportunity to make good on that financial support and a well thought out plan to become the largest rural cellular carrier in Canada. Seems like his ego gets in the way!
RuralCom CEO had successfully taken a turnaround company on to the NASDAQ. Could have done that for TNW Wireless Inc.
Under Laliberte, TNW Wireless Inc. (formerly RuralCom) has totally failed. They screwed up relationships established by RuralCom CEO and failed to act in a timely manner.
So to those other posters who laud praise on Laliberte, the convicted criminal and business killer, I'll call it all just BS. Laliberte is a poor excuse for a CEO and deserves no praise for his failures. Today TNW Wireless in the laughing stock of the Canadian wireless industry.
TNW Wireless could be $40-80M Revenue today!
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with an unremarkable track record. Predictably the past is the best clue to the future of UAMA and it is bleak!
ISED needs to REVOKE SPECTRUM LICENCES! Now!
TNW Wireless Inc. is really DEAD!
Their CELLULAR TELEPHONE NETWORK is not working and hasn't been for over two (2) years!
Anyone who suggests otherwise is dealing in falsehoods,
Complicit posters support the fraud!
TNW Wireless Inc. is dead!
Cellular network is INOPERATIVE and it is just a matter of time before ISED revokes the spectrum licenses.
It's well known and the Minister of ISED is on written notice that the network is INOPERATIVE and TNW Wireless Inc. has no paying subscribers nor are they carrying roaming traffic for compensation. They are not listed or registered with the GSMA and have no standing in the worldwide wireless community.
Mr. Sandeep Panesar, who is fraudulently represented in the Introduction to this Board as an employee left the company back in 2018. He was President, CEO of TNW Wireless Inc.
So just more fraud, misrepresentation of the facts and an appalling display of lack of knowledge of the wireless industry by UAMA and the posters promoting this fraud.
Absolutely no evidence UAMA is mining! DEAD!
No signs of life whatsoever at UAMA. OTC Markets labels UAMA as "DARK or DEFUNCT"
No reports in over a year and consider:
Quebec Court has issued a "shut-down" order to UAMA et al as they were found in violation of Quebec Land-Use Regulations. Laliberte appealed and LOST!
If, and a big "IF", UAMA et al still mining they would be doing so in contempt of Court.
Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Canadian Press says Benoit Laliberte convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
The SEC does and will act on such violations and likely just a matter of time!
Court records state, UAMA CEO is undischarged bankrupt.
Mr. Laliberte is said to have been an undischarged bankrupt in Canada for over ten (10) years! Evidence can be found in testimony before the Supreme Court of British Columbia.
UAMA and Benoit Laliberte FAILURE to properly disclose material information on PERSONAL BANKRUPTCY to investors, SEC filings and Pink Disclosure documents. Court evidence in CCAA Proceedings said the following:
49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation
Caveat Emptor - CAVEAT EMPTOR
UAMA CEO convictions never properly disclosed in filings!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
UAMA CEO fraudulent misrepresentation in 2019 filings.
To the question of "prior convictions" in past ten (10) years, Mr. Laliberte answered "NO" in Pink disclosure of 2019.
The evidence is clear. Mr. Benoit Laliberte was convicted on 44 counts of stock fraud, market manipulation and deceiving investors.
Formal complaints have been filed and being pursued with SEC. It will likely end up like Brooks v SEC with fines and banned from any future public company involvement.
Bitmain case over? Where's update from management?
Who knows what's going on? Only management likely.
Counsel seeks to withdraw? Why? Not paid?
Revelations of Benoit Laliberte's past too toxic?
Time for management to issue update unless UAMA DEAD!
OTC Markets labels UAMA as "Dark or Defunct".
Even "illusion of progress" gone. UAMA likely DEAD!
OTC Markets labels UAMA as "Dark or Defunct".
No Pink disclosures or financial reports in over a year.
Even BS Press Releases are missing in action!
No upside at UAMA. Another Laliberte failure!
No signs life at UAMA, MMs only!
No Pink disclosures or financials for over a year!
Even the BS press releases have stopped.
Plenty to report though:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
Absolutely no evidence of any UPSIDE for UAMA.
No signs life at UAMA, MMs only!
No Pink disclosures or financials for over a year!
Even the BS press releases have stopped.
Plenty to report though:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
Absolutely no evidence of any UPSIDE for UAMA.
UAMA CEO fraudulent misrepresentation in 2019 filings.
To the question of "prior convictions" in past ten (10) years, Mr. Laliberte answered "NO" in Pink disclosure of 2019.
The evidence is clear. Mr. Benoit Laliberte was convicted on 44 counts of stock fraud, market manipulation and deceiving investors.
Formal complaints have been filed and being pursued with SEC. It will likely end up like Brooks v SEC with fines and banned from any future public company involvement.
UAMA CEO convictions never properly disclosed in filings!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Canadian Press says Benoit Laliberte convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
The SEC does and will act on such violations and likely just a matter of time!
Court records state, UAMA CEO is undischarged bankrupt. 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
Mr. Laliberte is said to have been an undischarged bankrupt in Canada for over ten (10) years! Evidence can be found in testimony before the Supreme Court of British Columbia.
UAMA and Benoit Laliberte FAILURE to properly disclose material information on PERSONAL BANKRUPTCY to investors, SEC filings and Pink Disclosure documents. Court evidence in CCAA Proceedings said the following:
Quote:
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation
Caveat Emptor - CAVEAT EMPTOR
Is UAMA a criminal enterprise? The Supreme Court deaf to the cause of Benoît Laliberté
The Canadian Press says Benoit Laliberte convicted criminal.
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
What kind of company has convicted criminal CEO? Is UAMA a criminal enterprise?
UAMA CEO convicted criminal. UAMA criminal enterprise? The Supreme Court deaf to the cause of Benoît Laliberté
The Canadian Press says Benoit Laliberte convicted criminal.
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
Is United American Corp (UAMA) a criminal enterprise?
Are MMs manipulating stock of defunct company?
OTC Markets labels UAMA as "Dark or Defunct"
AMF Quebec ordered cease trade order earlier this year!
Any Canadians selling stock in violation of "cease trade order?
Take close look at UAMA CEO, convicted criminal. 30 April 2009 Decisions and Freeze and cease trade orders Securities
Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release.
Sentencing representations for these three charges will be held at a later date. The AMF wishes to stress once again that illegal insider trading and misrepresentations are unacceptable offences, and guilty parties must be harshly penalized.
As well, Judge Wagner dismissed the appeal launched by Benoît Laliberté with respect to the guilty verdict handed down by Judge Lacerte-Lamontagne on 40 charges.
On February 21, 2008, Court of Québec Judge Lacerte-Lamontagne found Benoît Laliberté guilty of 41 violations under the Securities Act (the "Act"):
for failing to file a report disclosing a change in his control over the securities of a reporting issuer, namely, Jitec Inc., thereby violating section 97 of the Act (30 counts);
for insider trading in the securities of Jitec Inc. while having privileged information about the company, thereby violating section 187 of the Act (4 counts);
for aiding Jitec Inc. in making a misrepresentation in press releases that could affect the market value or price of the company's securities, thereby violating section 196 of the Act (2 counts);
for making a misrepresentation in connection with a transaction relating to securities by promising investors, at the time they purchased shares of Jitec Inc., that contracts worth millions of dollars had been or would soon be signed by Jitec Inc. and another company, thereby violating section 197 of the Act (4 counts);
and for giving an undertaking relating to the future value or price of the securities of Jitec Inc. in connection with a transaction relating to the securities of the company, thereby violating section 199 of the Act (1 count).
On July 31, 2008, Judge Céline Lacerte-Lamontagne ordered Benoît Laliberté to pay fines totalling $900,000.
The decision handed down by Judge Richard Wagner is available (in French only) on the AMF website, under "News."
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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