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Quebec News Media has some rather unflattering words

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Lexit   Saturday, 07/30/11 10:14:32 PM
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Quebec News Media has some rather unflattering words for IAB Media today.

Google Translation item 1:

The network blocked by the AMF uses experts from the promotion, which would send millions of emails to investors to raise equity securities targeted.

Both companies are specifically active in the promotion, according to the AMF investigation: IAB Media and Downshire Capital, both of Montreal.


The first company is managed by Jean-Francois Amyot. She has several websites to promote market, including ItsAllBull.net but also PennyStockParty.com, and HyperGrowthStock.com StockPicksThatMove.net. The second company, Downshire, the website operated PennyStockChaser.com. She is co-owned by Daniel F. Ryan, who was sentenced to a penalty imposed last year by the Securities & Exchange Commission (SEC).

In this respect, the AMF reported the words of the promoter Serge Ollu during an interrogation. Serge Ollu is one of those it suspects of involvement in the scheme of market manipulation. He told the AMF that Jean-Francois Amyot and Daniel Ryan of stock manipulation are sending millions of emails.

Another person questioned by the AMF, Andrea Cortellazzi, also said that the techniques used by Jean-Francois Amyot similar to Pump & Dump . "The press releases issued for a period of promotion is misleading ( it's all bullshit ), especially when it comes to empty shells, "said Mr. Cortellazzi to the AMF, which denies having used this technique.

The Wikipedia website defines the Pump & Dump "a form of fraud with small equities that involves artificially increasing the price of securities through false or misleading in order to sell shares cheap at higher price ".

IAB Media, run by Jean-Francois Amyot, is mainly owned by the company Advice Hilbroy, which is banned by the authorities in this matter.

Hilbroy, IAB and Jean-Francois Amyot are not registered with the AMF, as most of the respondents in this case. We left messages for Jean-Francois Amyot, but he has not called La Presse .


Item 2 Translation:

The Financial Markets Authority (AMF) is undertaking legal action against what it believes to be a real organized network of market manipulation.

The AMF investigation is including 13 companies and 18 individuals who played a role in this matter, including financial Andrea Cortellazzi, Ollu Serge and Jean-Francois Amyot.

According to the AMF, the network is working to boost the shares of the stock market shells by publishing false news. Its members would benefit by selling their shares after a rise caused by their operations, to the detriment of small shareholders. The scheme is similar to what is called in English the Pump & Dump . It would be parallel to the stock markets, including the Pink Sheet.

The AMF investigation lasted a year. In September 2010, the agency seized documents in a small mansion located on rue Redpath Crescent, on the slopes of Mount Royal, and in another room in Montreal. It is particularly seized documents outlining the steps needed to boost the price of two equities transactions through targeted press releases.

The summary of the AMF investigation in a document filed with the Bureau decision and overhaul (BDR), in late June The BDR is sort of the securities tribunal in Quebec.


At the request of the AMF, the BDR has agreed to ban all trade in the securities business and Neuro-Biotech Wanderport, in addition to requiring the closure of the website "ItsAllBull.net", which was promoting Wanderport . The order also applies to officers and directors of both companies, in addition to businessmen Serge Ollu, Andrea Cortellazzi, Jean-Francois Amyot Andrew and Barakett.

Neuro-Biotech promotes blood tests to detect stress. According to the AMF, the company issued a statement in March 2011 reporting a meeting with Russian Deputy Minister in Montreal. Verification, no meeting took place, supports the AMF.

Another disturbing element: Neuro-Biotech announced in January 2011 have reached an agreement with a company in Israel. But the company denies having signed this agreement.

The Neuro-Biotech Patents have been developed in Quebec, but the firm is governed by U.S. law and its major shareholders are incorporated in the Bahamas. Last March, the company moved its headquarters from Switzerland to Russia.

Neuro-Biotech has incorporated a subsidiary in Quebec in the summer of 2010 called Neuro-Biotech Lab Canada. The president of the Canadian subsidiary is a security guard working for Garda in Dorval. But the agent told the AMF had never agreed to chair the company and said he did not know who was able to submit this information.

Excel Gold Mining

The AMF investigation is also another company on the Stock Exchange, Excel Gold Mining (EGM), and certain of its shareholders, who have links with two other companies on the stock market.

The AMF has got hold of a document describing exactly the steps for 90 days to handle the title of EGM, in spring 2009. In fact, the title went from 2 cents per share in February 2009 to 12 cents in June 2009, a gain of 500%. The BDR has declined to block transactions EGM without hearing the parties involved.

In addition to those mentioned above, the AMF considers that a dozen other people were involved in the scheme. Among them, there is Michel de Montigny, the businessman who had close links with a senior member of the Hells Angels. The AMF also notes that Salvatore Brunetti is part of a privileged group who had shares of Excel Gold Mining in 2009. Salvatore Brunetti is a member in good standing of the Hells Angels.

Two people, Daniel Ryan and Carol McKeown, have been under the scrutiny of the AMF and Exchange Commission last year for another case of stock manipulation. In May, they were sentenced each to a penalty of $ 150,000 in the United States.

Other include Jacques Vallée, Nicolas Matossian, Dominic Gingras, Patrick Lessard Yannick Lessard, Martin Harvey and Daniel Pauze.


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