Tag: Lino Matteo

Class action authorized against three accounting firms in Mount Real financial scandal

Nearly six years after 1,600 investors were bilked, left holding an estimated $130-million of worthless promissory notes when Montreal financial group Mount Real Corp. was shut down by the Quebec securities regulator, a Quebec judge authorized a class action against two former executives, two financial service companies and three accounting firms.

Mount Real scandal: Three more convicted

Several weeks after three more individuals linked with the bankrupt Montreal financial group Mount Real Corp. were ordered to pay fines ranging from $7,000 to $104,500, its former president now faces charges in an another alleged fraud that dates back to 1998.