Mfa Programs

- Jean-François Parent 29/07/2013 - 10:23 - Jean-François Parent

The market regulator filed a criminal lawsuit against Alain-André Desarzens, Rimouski, which have made investments without a prospectus and would illegally introduced as stockbroker.

According to the Authority, "Andrew would Desarzens promotes multiple investment programs" via the Internet, recruiting "at least 2, 500 investors spread across the world [that] have invested a total of $ 810, 000 in 2010."

The AMF, which argues that investors have not recovered their money, filed two charges and claims $ 1, 720 000.

Email solicitation

It is the promotion of investments in internet windfall returns that led to Alain-André Desarzens regulatory justice.

He would crony Warren English, a Laval which offers investment in Mega International Business would have resulted in losses for investors.

The narrated by the AMF investment program as approximates a pyramid scheme.

"Warren English sent emails signed Warren to offer investors to participate in the Mega Pension Plan, it was presented as a simple pension plan administered by reverse business, banking and legal experienced consultants, who have no Moreover never been identified. These investors were invited to pay administrative fees, a position or a contract worth $ 50.

"Buying a position would allow each investor to receive in return for payment of a pension benefit of $ 80, 000. The $ 50 fee covering all costs required to maintain this regime. Participants in this scheme had nothing else to do.

"But they are also invited to direct other interested investors to this site, which would result in a payment of $ 6 000 to reward them."

Alain-André Desarzens would have inspired these practices to implement its own program.

In a freeze order issued at the place of Alain-André Desarzens in 2011, the MFA argued that "Alain André Desarzens, respondent exercised similar activities by sending to potential investors emails from addresses alainandre @ cgocable.ca and [email protected]. There is promoting investment products requiring a modest outlay ($ 10 to $ 300) and to yield substantial gains ($ 1 000 to $ 90 000).

"Alain André Desarzens promotes a product called Cherryshares and refers to the website inviting interested parties to pay via Alertpay or other sites."

Money transfers took place between Warren English, Alain-André Desarzens whose Cherryshares program is similar to Mega Pension Plan English.

A similar scheme has also earned the respondent the remonstrances of the Securities Commission of Pennsylvania in 1999. "In addition, the Pennsylvania Securities Commission issued May 12, 1999 decision to cease trading in securities against Alain André Desarzens based on the solicitation of the citizens of this state" securities without the proper authorization to do so, tells the AMF before the Board decision and revision in 2011.

Interviewed by CBC last Friday in Rimouski, Alain-André Desarzens says he was himself cheated by the instigators of the investment program he was promoting.