Éric Asselin, ex-right-hand man of Vincent Lacroix at the time of the Norbourg scandal and who would present himself today under a false name, can no longer practice as a mortgage broker, decides the Administrative Tribunal of the Financial Markets (TMF).
The Autorité des marchés financiers (AMF) filed a request against Jean-François Soucy, Éric Asselin and Groupe Courtier Expert inc. (the “Defendants”) in this case.
According to the AMF, Jean-François Soucy would encourage and allow the illegal exercise of the activity of mortgage broker or mortgage brokerage firm by Éric Asselin and Groupe Courtier Expert inc., in addition to tolerating that Éric Asselin presents himself as another name, Éric Gagnon.
According to the AMF investigation, Mr. Soucy would also have offered, among other things, mortgage loans disbursed by a private lender in which he had a direct interest (conflict of interest). He also allegedly failed to advise his clients adequately and to provide them with all useful or necessary information for their understanding, and allegedly failed to ensure that the loans offered were suitable for his clients, according to the AMF.
A fraud that marked Quebec
The Norbourg affair, which occurred 17 years ago, continues to fascinate the Quebec public and make people talk about it. By its excesses, by the light it sheds on greed, the thin threads on which entrepreneurs sometimes have to walk – and on which many will fall – this story will have had the merit of rekindling the interest of Quebecers in the economy, business and their personal finances.
The Vrai platform offers a documentary series on the underside of the “case”, which remains today the most important financial fraud in the province.