As of November 7, 2017, Judge Myriam Lachance convicted Claude Bossé, Claude Yvon Provost, Leonard Stella, Mario Paquin and Reginald Alfred Groome on various counts in regards to the Millenia Hope fraud.
I must say that after 5 years of investigation I thought that my investigation into Millenia Hope was over having found indisputable evidence of fraud in this case.
The only reason that could prompt me to reopen this investigation was, after reading the AMF’s investigation summarized in Lachance’s judgment, to conclude that there were facts and evidence that would demonstrate a complicity of the AMF in this fraud and I must say that there are many facts and evidence that would support this conclusion.
That’s why I am opening this investigation again. This also shows me how wrong I was to have abandoned my Blog that keeps an eye on the activities of the AMF. It’s a decision I’m going to change. I will start to investigate the AMF again in order to review its actions and decisions. When the AMF commits or participates in a fraud, who do you call? Where can a complaint be made? Can we make a complaint to the UPAC? UPAC’s position is that it has no power over the AMF. In fact, there are now accusations of collusion between the AMF and UPAC supported by the arrest attempt against the Quebec MP Guy Ouellette by the UPAC when he was going to make revelations of this collusion between the AMF and the UPAC.
The major newspapers have shown that they are afraid to openly criticize the AMF. The perfect example is the journalist François Vaille of La Presse who mysteriously defends the AMF in this affair of collusion and suddenly attacks the whistle blower. Vaille wants evidence on this collusion when repeatedly La Presse has censored evidence of questionable conduct of the AMF in the financial industry in order to protect the AMF.
When I asked the Minister of Finance of Quebec who was keeping an eye on the AMF, he said that reviewing AMF actions was not a responsibility of his department. About The same position of the AMF when it says it is not responsible for reviewing the business practices of insurance companies.
So there are no remedies and no available avenues when you have evidence that the AMF has committed an act of fraud.
This is incredible when we consider the actions of the AMF in the fraud of Millenia Hope. We will prove that it was only because of the AMF that Millenia was able to commit its fraud when the AMF was aware of the fraudulent actions of Millenia Hope. The questions we will be looking at will be:
1) What are the terms behind the decision of the Bureau of Decision to lift the prohibitions against Millenia Hope after a mysterious agreement between the AMF and Millenia Hope?
2) This agreement is based on evidence submitted by the AMF in 2007, which proves that the Millenia Hope executives were not involved in this fraud when the same evidence submitted in 2017 on the same facts prove otherwise.
3) Thanks to this agreement and the lifting of prohibitions, Millenia Hope was able to increase its solicitation to the public in order to defraud such public.
4) Union Securities was a firm that had been hired by Millenia Hope to solicit investments. There has never been an investigation into this firm that closed mysteriously. In fact, in its decision, Laflamme states that there is nothing that proves that Union Securities was aware of the actions of its Broker Groome and Millenia Hope when the investigation condusted by Investment Industry Regulatory Organization of Canada (IIROC) proved otherwise in 2013 in its decision against Groome.
5) Why did the AMF make no requests to ban Millenia Hope after 2007, when the AMF had evidence that Millenia Hope executives like Leonard Stella did not respect the agreement were soliciting the public in order to defraud such public. Because of this, the victims of Millenia Hope have no hope of recovering their money. This money has now disappeared because of the AMF.
6) Why did the Indemnity Fund pay no money to the victims of this fraud when representatives like Groome held a license issued by the AMF?
These will be questions that we will examine proving the complicity of the AMF in this fraud.