The court intervenes urgently against three Quebec financial influencers

Fearing that the investments of hundreds of “vulnerable investors” would evaporate, the court has just taken emergency measures to limit the actions of a trio of Quebec influencers active on social networks and acting on behalf of MavieLab and three of its partner companies.

In a decision handed down last week, the Administrative Tribunal for Financial Markets (TMF) gave its approval to a request from prosecutors of the Financial Markets Authority (AMF) who called for the urgent issuance of prohibition orders against them. place, accompanied by a battery of measures aimed at quickly restoring respect for the laws.

In this case, which is still the subject of an investigation, the names Nick Lemay, from Boischatel, Stéphane Plante, from Quebec, and Nathalie Mercier, from Salaberry-de-Valleyfield, appear as “network marketers» on behalf of MavieLab Ltd, a company registered in the British Virgin Islands.

The latter (Mavielab) claims to be a marketing agency serving partners (including Ultron Technologies, Lottoday and FlipMe) to promote their investment products to amateur investors, through its website and its representatives.

Active solicitation

The evidence obtained by the AMF tends to demonstrate that representatives Lemay, Plante and Mercier organize weekly, under the banner of MavieLab, virtual meetings during which they “actively and persistently” solicit investors in order to get them to subscribe to contracts on cryptoassets.

Michal Prazenica is the President of MavieLab, a company registered in the British Virgin Islands and managed from Dubai, United Arab Emirates.

Photo taken from the MavieLab website, also known as MaVie Global.

The trio of “network marketers», acting in fact illegally – according to the AMF – as brokers and value advisors, would also periodically organize in-person conferences to promote the sale of financial products (of Ultron, Lottoday and FlipMe obviously) inevitably offering staggering returns.

One of them, held in February at the Ruby Foo’s hotel in Montreal, attracted around a hundred investors from several regions of Quebec, worried the investigators in the file.

But that’s not all: the three representatives would be about to hold a large-scale event on the territory of Quebec, at which no less than a thousand people would be expected. The latter was initially scheduled for June 8 and 9, but given the circumstances, the event could be held earlier, it is feared.

Funds difficult to recover

The approach of this event and the importance of the illicit actions committed to date have prompted the AMF to seek a rapid solution. The latter seemed all the more important, she explained to the judge, as money transferred by the public in the form of cryptocurrency is routed through web platforms owned by companies registered in “tax havens”.

Photo taken from the MavieLab website, also known as MaVie Global.

“This situation is likely to considerably complicate any possible attempt by the regulator to recover and potentially redistribute to injured investors the money that the respondents would have succeeded in extracting from them as part of their illicit activities,” argued the AMF.

Convinced, Judge Jean-Pierre Cristel, of the TMF, therefore agreed to prohibit MavieLab, Nick Lemay, Stéphane Plante and Nathalie Mercier from carrying out any activity with a view to carrying out, directly or indirectly, an operation on any form of investment covered by the Securities Act.

The TMF also ordered them to immediately remove any publication relating to any form of investment linked to Mavielab, also known as MaVie Global, or to block access to their websites.

In the meantime, the AMF is continuing its investigation and the respondents have been granted 15 days (from May 21) to challenge the TMF’s decision.

Info box:

Danger warning: companies targeted by the AMF

Mavielab Ltd is a marketing company registered in the British Virgin Islands, chaired by a certain Michal Prazenica. MavieLab, also known as MaVie Global, owns the website, which is accessible in Quebec.

Ultron Technologies Inc. is a company incorporated in Dubai, United Arab Emirates. It also does business as the Ultron Foundation. She owns the website, which is accessible in Quebec.

FlipMe would be an exchange platform between cryptocurrencies and other currencies through the traditional banking system. The platform, whose physical address remains unknown, owns the website, which is accessible in Quebec. FlipMe would also allow you to transfer funds, make payments and make purchases and exchanges in cryptocurrency.

Lottery is a decentralized gaming platform, the address of which remains unknown. It owns the website, which is accessible in Quebec.

Source: Administrative Tribunal for Financial Markets



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