Repeat securities offender going to prison

By James Langton | December 20, 2019 | Last updated on December 20, 2019
1 min read
Obsolete gray grunge concrete room, prison cell with metal bars.
© Igor Stevanovic / 123RF Stock Photo

A repeat offender has been fined and ordered to serve 90 days in jail in an illegal distribution case, the Autorité des Marchés Financiers (AMF) has announced.

According to the AMF, a justice of the peace of the Court of Québec found Francis Mailhot guilty of nine charges, including four counts of unregistered dealing, four prospectus violations and one count of misleading investors.

As a result, Mailhot was fined $139,000 and ordered to spend 90 days in jail.

The AMF, which brought the charges in the case case, said its investigation found that Mailhot had illegally solicited investors to finance the forestry and mining activities of other firms.

Back in 2017, Mailhot was fined $5 million after pleading guilty to three counts of market manipulation.

James Langton headshot

James Langton

James is a senior reporter for and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.