The Autorité des Marchés Financiers has just brought a prosecution against two Quebecers suspected of having orchestrated a fraud of almost $ 20 million.
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Estratios Gavriil, alias Sean Gabriel, faces two counts for having transmitted false or misleading information and two fraud chiefs.
Nick Tzaferis is targeted by a chief of fraud.
According to the AMF, the two men played a central role in fraud affecting the Cape Cove Montreal financial service firm, which was used from 2018 to 2021.
More than 650 small investors were caught in this case, including 414 Quebecers, who lost between $ 2,000 and $ 453,000.
More than $ 9M in compensation
Quebec victims were entitled to compensation of $ 9.1 million from the AMF compensation fund. This is the most important speech in this respect since the Norburg scandal, which had led to losses of $ 130 million in 2005.
So far, only Robert Audet (CEO of Cape Cove) and Claude Dufour (executive vice-president of the firm) have received fines of $ 55,000 and $ 20,000 respectively.
Robert audet
Photo LinkedIn
The AMF also wishes to inflict a fine of $ 75,000 on Dany Bergeron, a former financial advisor who recruited investors for Cape Cove.
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