The Autorité des marchés financiers (AMF) has filed a lawsuit against Marwa Samhat, Haissam Bassam and SAMHAT Financial and Insurance Services Inc.
The criminal prosecution filed in the judicial district of Montreal has a total of 25 charges, the AMF said in a statement on Thursday.
Marwa Samhat faces 12 charges because he allegedly transmitted false or misleading information to an insurer and a boss because he allegedly helped Haissam Bassam to act as a representative in insurance of persons without holding a certificate .
Haissam Bassam is targeted by nine counts because he would have transmitted false or misleading information to clients and one count because he would have acted as a representative in insurance of persons without being authorized.
SAMHAT Financial and Insurance Services Inc. must also respond to two charges.
This is one count for helping Marwa Samhat to transmit false or misleading information to an insurer and another for helping Haissam Bassam to act as a representative in insurance of persons without holding a certificate in proper form.
The investigation carried out by the AMF reveals that Marwa Samhat and Haissam Bassam have allegedly implemented a scheme consisting in making clients subscribe to a life insurance product on the basis of false representations.
A ploy that allowed them to earn large commissions from the insurer, it was added.
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