Institutes of Biomedical Research Corp (MRES)

[EarnestDD]

AMF requesting SEC to investigage MRES.
Here is your link courtesy of Lexit. Enjoy.
jmo
Quote:
Quebec AMF has asked SEC to investigate MRES

Google Translation:

Ollu Case: AMF is seeking fines of $ 2.8 million
Posted May 11, 2011 at 12:04 | Updated May 12, 2011 at 7:41

(Montreal) The Financial Markets Authority (AMF) IS Seeking fine of $ 2.8 million to seven companies and Three Individuals for a case of illegal collection of funds and illegal practice of broker.

At the heart of this story are particularly Ollu Serge and Guy Drouin, as the company Mineral Resources Andréanne. Overall, the AMF filed 260 charges in the districts of Montreal, Quebec, Terrebonne and Laval.

In October 2008, the AMF had blocked the accounts of Mineral Resources Andréanne and had forbidden any transaction value, as well Izza Minerals in HE-5 Resources, and five individuals. In October 2008, The MFA HAD blocked The account of Mineral Resources and Andréanne HAD "any forbidden transaction value, as well Izza Minerals in HE-5 Resources, and Five Individuals.


Yesterday, The MFA has finally Filed a Lawsuit Against Those Allegedly Involved in this complex case. According to the agency, 53 investors have entrusted 1.8 million to 7 individuals. This sum has been almost entirely lost.

Cortellazzi and Ollu

This is not the first time that Serge Ollu has problems with the law. In January 2010, the businessman was found guilty of criminal fraud for acts committed in 2002 and 2003. Mr. Ollu was particularly successful in selling houses that do not belong to him and pocketing the fruits of transactions.

The 65 year old man has not finished with the authorities. It Is In The crosshairs Of The AMF In Another box, this time related to The handling of small equities With The financier Andrea Cortellazzi.

In September 2010, the house of Mr. Cortellazzi - a small castle on Redpath Crescent - has been searched by the body. Serge Ollu offices have also been the subject of a search, rue St-Ambroise, also in Montreal. The agency has seized a laptop, and a dozen hard drives and over 20 boxes of documents.

The AMF investigation into the company Proactive Computer Services, in particular, as well as Neuro-Biotech company, whose ancestor was called M-45 Mining Resources. She requested the collaboration of the U.S. stock market due to "extra-territoriality of activities and persons under investigation," it is written in a document filed at the courthouse in Montreal.

In a survey published in La Presse in June 2010, two investors claimed that Mr. Cortellazzi had suggested to participate in operations of stock manipulation. The technique described is similar to the "pump & dump. "Wikipedia defines this technique as" a form of fraud With small equities That Involves artificially Increasing The Price of false-through securities in order to Misleading gold sell cheap stocks at high price. "

Regarding the lawsuits filed yesterday, Serge Ollu been 33 counts for which the AMF is seeking fines of $ 404 000. His wife, Denyse Raynault, is also covered by 36 leaders ($ 360,000 in fines claimed). The other accused persons are Guy Drouin (34 heads, $ 556,000), Guy Bégin (41 heads, $ 226,000), Marie-Hélène Frigon (37 heads, $ 202,000), Jacques Vallee (8 charges, $ 80,000) and Andrea Cortellazzi (6 heads, $ 56,000).

Companies Andréanne ET-5 and Izza are similarly demanding fines of $ 600,000 respectively (30 counts), $ 240,000 (24 counts) and $ 100,000 (10 counts).

http://lapresseaffaires.cyberpresse.ca/economie/quebec/201105/11/01-4398374-affaire-ollu-lamf-reclame-des-amendes-de-28-millions.php