Aggregated News From Investment Management Regulators

Beware of fraudulent representations by Pénélope Gauthier and Gestion Donolo Inc.

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The Autorité des marchés financiers (AMF) cautions Québec consumers about fraudulent representations by Pénélope Gauthier and Gestion Donolo Inc.

According to information gathered by the AMF, Gestion Donolo Inc. posted a job offer on job search sites. When a number of people answered the offer, they were told that, to get the job, they had to purchase group insurance through Pénélope Gauthier. When she contacted the victims, Ms. Gauthier claimed she was working on behalf of Planification financière Philippe Fahey Inc, a firm duly registered with the AMF.

The AMF wants to the public to know that Pénélope Gauthier is not registered with the AMF and is therefore not attached to Planification financière Philippe Fahey Inc. and that Planification financière Philippe Fahey Inc. is not connected with these fraudulent solicitations.

The AMF reminds the public that fraudsters may use the contact information of firms and individuals registered with the AMF to make their activities appear legitimate.

The AMF has noted that fraudsters are using the names of registered firms to induce consumers to purchase insurance or financial products. The fraudsters will even go so far as to use the names of representatives attached to those firms, again with a view to making their victims believe they are dealing with a duly registered representative. The insurance or financial products don’t actually exist and the victims never recover their money. The victims’ identities may also be stolen and used by the fraudsters to pad their own pockets.

We therefore recommend that you perform the following checks and steps before purchasing insurance or financial products:

  • Consult the Register of firms and individuals authorized to practise or contact the AMF Information Centre to check whether the individual or firm involved is duly registered with the AMF
  • Call the firm or individual at the telephone number appearing in the Register to find out whether the offer that has been made to you is valid
  • Never share your personal information or transfer any money before performing these checks

If you have been a victim of this scheme, please contact the AMF and the following organizations:

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

This news item was originally published by the Financial Markets Authority (AMF CA). For more information, please see the Source Link.

Regulator Information

Regulator Name: Financial Markets Authority
Abbreviation: AMF
Jurisdiction: Canada

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