Quebec’s AMF advises investors in Laboratoire Blockchain to contact regulator

Maria Nikolova

The business is now subject to freezing orders following a ruling by the Financial Markets Administrative Tribunal (TMF).

Quebec’s financial markets authority (AMF) is urging members of the public who invested money in Laboratoire Blockchain (also known as Blockchain Lab) to contact the regulator, as the entity and a number of individuals associated with it are now subject to freezing and injunctive orders.

Earlier in March, the Financial Markets Administrative Tribunal (TMF) has issued a raft of orders targeting Laboratoire Blockchain inc., Jonathan Forte, Benjamin Forte and Nicolas Barbasch-Bouchard over their violations of securities laws.

In particular, the TMF has prohibited the defendants to exercise all activities related to securities. Laboratoire Blockchain inc. was ordered not to dispose of any funds, including any cryptocurrencies in its possession, as well as any pieces of equipment, including ones used for cryptocurrency mining.

Furthermore, the defendants are ordered to withdraw all advertisements and publications related to Laboratoire Blockchain inc., including ones disseminated online and, in particular, via Facebook.

The AMF notes that it is currently conducting an investigation into this case. The regulator asks all people who invested money in Laboratoire Blockchain inc or by using the services of any of the defendants to contact Sarah Abi-Khalil via 1 877 525-0337, 2644, not later than April 1, 2019.

Let’s recall that, in a similar move in February this year, Quebec’s AMF urged investors in cryptocurrency mining firm Technologies Crypto Inc. to contact the regulator. Technologies Crypto, doing business as “Make it Mine” solicited at least $300,000 from investors advising them the money would be used for cryptocurrency mining. Some investors managed to get their money back but others were unable to contact the firm and get their investments back.

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