The Autorité des marchés financiers reports that a man accused of distributing shares without a prospectus had pled guilty to 19 counts of securities law violations.

The AMF says that, in March and April, before courts of various judicial districts in Québec, Michel Tétrault pled guilty to 19 counts brought against him by the Commission des valeurs mobilières du Québec (the predecessor to the AMF). The CVMQ had instituted penal proceedings against Tétrault in October 2002.

Tétrault was charged with assisting 9055-6713 Québec inc., 9066-3477 Québec inc. and 9066-3832 Québec inc. with the distribution of their shares without these companies having a prospectus approved by the commission. In total, he was hit with $95,000 in fines, which he must pay within 36 months.