A mortgage broker in Montreal sentenced to fines of $510,000

QMI agency

Thursday, 25 January 2018 11:26

UPDATE
Thursday, 25 January 2018 11:29

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A mortgage broker Montreal, Hershey Rosen, has been sentenced to fines totalling $ 510,000 in connection with illegal distributions and for having embezzled funds, reported on Thursday, the financial markets Authority (AMF).

Rosen was facing 25 counts of various offences, in the context of a criminal prosecution brought by the AMF in 2010.

“The investigation conducted by the AMF showed that Hershey Rosen was solicited investments from four people, who have lost their invested capital, or a sum total of 829 000 $,” says the organization in a press release.

The decision has been rendered in the Court of Québec at the end of the month of November last, and was highlighted Thursday by the AMF.

According to a suggestion common to the parties at the conclusion of the trial, Rosen will be required to repay a sum of $ 150,000 to the victims of his ploy.