A fake mortgage broker, who allegedly collected several thousand dollars for illegal services, is in the crosshairs of the Autorité des marchés financiers (AMF), which has just brought a lawsuit against him.
According to the investigation conducted by the AMF, Daniel Cousineau-Claveau offered Quebec consumers “mortgage brokerage services for remuneration that could amount to several thousand dollars per financing request”.
He faces 15 counts of illegal exercise of the activity of mortgage broker.
“Daniel Cousineau-Claveau has never been registered in any capacity whatsoever with the AMF or with the Organisme d’autoréglementation du courtage immobilier du Québec, which supervised the discipline of mortgage brokerage before the transfer of this here at the Authority on 1er May 2020,” said the AMF, which has initiated criminal proceedings against the man who is also known as Daniel Cousineau, Dan Cousineau, Daniel Richard Cousineau and Phil Archambault,
Over the years, it would have done business under the names of Magik Hypothèque, Solu-Prêt, Pure Hypothèque and Magik Hypothèque Sans Frontières. None of these entities is registered with the Registraire des entreprises du Québec or Corporations Canada.
It should be noted that the Financial Markets Administrative Tribunal (TMF) issued orders against Mr. Cousineau-Claveau in November 2021, ordering him in particular not to dispose, directly or indirectly, of funds, securities or other assets that he has in his possession. The TMF was also ordered to remove or deactivate its website magikhypotheque.ca. These orders were renewed on September 29, 2022 and are still in effect today.
After the defendant has entered a plea, the Court of Québec will then have to rule in light of the evidence that will be presented before it.