Friday, January 28, 2011

Vincent Lacroix finds his freedom

(Montreal) The Criminal tie most famous Quebec, Vincent Lacroix, has regained his freedom this morning.?
Arriving by taxi, carrying his belongings in a garbage bag and a duffle bag, the former CEO of Norbourg made its debut at 11:30 this morning at its new home: the Community Residential Centre Jeun'Aide, in the district St. Henri in Montreal. Vincent Lacroix must reside in the halfway house during the next three years. Very soberly dressed in a pair of jeans, a sweater and a blue coat, he left the prison in Ste-Anne-des-Plaines an hour before.
Vincent Lacroix was sentenced for orchestrating a fraud of $ 113.5 million from 9200 investors had asked to live his parole in the city of Pickering, Ontario, but his request was denied. Rather it is returned in the same halfway house where he had stayed at its first release, in 2009. He was silent before the questions many journalists waiting outside the door of his halfway house.
Incarcerated since October 2009, at the prison in Ste-Anne-des-Plaines, Vincent Lacroix was granted parole on the sixth of his sentence of 18 years less one day in prison. The Parole Board imposed six months of community service. Vincent Lacroix will include meals in soup kitchens. "We have different partners such as charities, soup kitchens and counters to help the community. They are places of great value because they help us in our effort to reintegrate these people into society, "said Jean-Yves Roy, a spokesman for Correctional Service Canada, the government agency that will oversee the Freedom of Vincent Lacroix.
Except for exceptional reasons, Vincent Lacroix, 44, will not leave the country during his parole. He may leave his halfway house to enjoy a full parole as of February 7, 2014.
Halfway house, Vincent Lacroix will enforce a curfew and can not consume alcohol in their new home. There will be six months of community service. The parole board denied his request for now to return to school. "You should research your social conscience and get away from materialistic values," wrote the commissioners Pierre and Michel Cadieux Pallascio in their decision released last Friday.
As conditions of release, the Commission prohibits Vincent Lacroix of paid employment, work in the field of finance and communicate with his former accomplices. Five former employees of Norbourg are currently undergoing criminal trial, scheduled to end next month after more than four months. This is the second trial of the co-defendants Vincent Lacroix, the first trial aborted in January 2010.
An output "premature"
Vincent Lacroix was sentenced by a criminal penalty of 13 years and a criminal penalty of five years less a day under violations of the Securities Act. It came first in prison January 28, 2008 and was released in a halfway house on the sixth of his criminal sentence July 21, 2009. On October 9, 2009, he resumed the road to prison when he was sentenced to 13 years of criminal imprisonment. His sentence officially ends Jan. 26, 2026.
Victims of fraud Norbourg concluded last week a settlement of $ 55 million with the Autorité des marchés financiers (AMF), the securities custodian Northern Trust and the accounting firm KPMG. With this agreement, they recover all their money invested in Norbourg.
Pellemans Wilhelm, one of the victims of fraud Norbourg who had filed a class action against the MFA, is the release of Vincent Lacroix "premature." "We can take comfort in thinking that Vincent Lacroix is more than a little gentleman, a bit shabby, which counts for much more," said Pellemans last week.
The federal Minister of Public Safety, Vic Toews, would not comment on the release of Vincent Lacroix. He filed a bill making it harder for automatic release of financial fraud in the sixth of their sentence. "The liberation of serious fraud sixth of their sentence is an affront to the integrity of the Canadian criminal system," said his press secretary Christopher McCluskey.

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