BREAKING MFDA Responds to Gilles Latour Media Quotes by Jamie Gilcig DEC 2, 2016

BREAKING MFDA Responds to Gilles Latour Media Quotes by Jamie Gilcig DEC 2, 2016

Cornwall Ontario – Holy Gilles Latour!   The former Liberal bag man spoke to Bill Kingston, and reading his words you almost want to pat him on the back and put a few coins in his cup.

However the evidence that has been displayed so far paints a different picture.

Latour has yet to explain the more than $650,000 that was failed to be repaid from clients, including his own mother.  He’s also facing 43 criminal charges.   And probably would have a few more if the CCPS had more than one officer working in Fraud and crimes of the nature connected to Mr. Latour which can lead to lengthy delays.

Here are a few of the gems that Mr. Latour spouted:

“They’ve decided to go ahead and do what they’ve done yesterday which is kind of ridiculous. I am at a point right now, what’s the most important part, other than my family, is the criminal case. And the way they’ve (MFDA) been sharing information with pretty much everyone…they’ve written a total of 22 stories. It’s not a way to be dealing with these important issues…through the media,” Latour said.

“They’ve decided that, hey, we’re the MFDA and we’re going to do what we do best.”

Latour is adamant he has cooperated with the Mutual Fund Dealers Association and “all that they’ve recommended.”

Perhaps Mr. Latour thought that a friendly police force and police board might not pursue his case as hard as would be the norm, or that some sporting buddies that sit on the bench might give him some “Cornwall Justice” which would impact licensing decisions?    So far, at least at the MFDA level, this has been a clearly documented and visible process that is showing a clear desire to protect investors from the exact type of actions alleged against Mr. Latour.

Of course, the educationally handicapped Mr. Latour might not realize that in agreeing to the terms and conditions of being licensed by the MFDA and other associations he agreed to terms and conditions as well as processes.

“My name is pretty much mud in the city and as far as the financial industry. But I plan on making sure that everyone knows the truth about what actually went on. But it has to take its time. Unfortunately it’s two-and-a-half years. I will definitely clear my name.”

The MFDA responded:

The MFDA conducted a disciplinary proceeding which found that Mr. Latour solicited and failed to repay more than $650,000 from clients, and then failed to cooperate with the MFDA’s investigation into his conduct. The Hearing Panel issued Reasons for Decision (Misconduct) dated June 7, 2016 which are available on the MFDA’s website. The Reasons for Decision address why Mr. Latour’s request to adjourn the MFDA’s disciplinary proceeding until the criminal charges against him were resolved was denied (see paragraph 21) and speaks for itself with respect to the extent of Mr. Latour’s misconduct. Mr. Latour attended the disciplinary proceeding (including the penalty hearing) against him by teleconference. The MFDA has continuously acted in accordance with all regulatory requirements and to ensure Mr. Latour received the opportunity to fully respond to the case against him.

 

Regards.

 

Charles A. Toth 
Director, Litigation

Mutual Fund Dealers Association of Canada

At the end of the day most of the victims monies most likely will be lost.

 

“My name is pretty much mud in the city and as far as the financial industry. But I plan on making sure that everyone knows the truth about what actually went on. But it has to take its time. Unfortunately it’s two-and-a-half years. I will definitely clear my name.”

“Everything will get cleared up hopefully in a matter of months because I would like to get on with my life.”

Oddly enough CFN asked Mr. Latour for comment multiple times because we fight for freedom of speech and always will clear space for all sides in any issue.  He has never responded in spite of this newspaper reaching more of “everyone” in the region than any other local media outlet.

CFN spoke with multiple experienced legal professionals who estimated that just reviewing the information disclosed to date that Mr. Latour is facing at least six months in jail to as long as five years depending on the bent of his judge, and if it was felt that this was more purposely done than simply “Latoured”.

What do you think dear CFN viewers?   You can post your comments below.

Edited for typos.

 

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E.T. BASS
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E.T. BASS

Morning Jamie,
The timing of the “MFDA” disciplinary hearing speaks volumes on it’s own ! Why was the decision published, mere days before his (Latour) criminal trial begins ? IMO, they “MFDA” were not overly impressed with the CCPS investigation ? Why wasn’t, or , why didn’t the CCPS call in another Police Service , that have expertise in prosecuting such cases ?

jules
Guest
jules

If Cornhole had any laws HOLY CRAP GILLES LATOUR would be in prison by now. If Latour would have done this in Ottawa he would be in prison a long time ago. Cornhole is finished like I said before. Once you take something without paying for it then nobody will ever trust you ever again. Cornhole is full of such people these days. No good company anywhere would hire them only the worst.

jules
Guest
jules

There is a reason why Frosty the Showman is out and yes he could be a squeeler for the cops and most likely can bring down a lot of the clique and sheeple in Cornhole. What Frosty is doing is something to shut his mouth. There is something mighty strange and not right about Frosty the Showman and his case.

Hugger1
Guest
Hugger1

Jules…the laws are the same whether you’re in Cornwall or Ottawa. The problem is as Admin reports…a lack of resources. Having to deal with the clique certainly doesn’t help any one investigating one of Cornwall’s favourite sons. As for Brock Frost check his Facebook page. On the outside it looks like he’s trying to polish his image.

jules
Guest
jules

Jamie I agree fully with you that another cop force has to come in to Cornhole to do the job. Ottawa is expanding southerly and in time it may reach Cornhole. It is very expensive here and most people cannot afford it. My spidy senses are saying that cops from Ottawa or Toronto or somewhere has to go into Cornhole and “drain the swamp” too much corruption and kick ass has to happen down there.

jules
Guest
jules

Jamie the problem in Cornhole is that a lot of the people down there know that their town is corrupt and are trying to hide their dirty linen. The people get defensive and are protecting the dirty clique when they should be exposed and run out of town on the rail and never to be heard of again or even in prison for what they do. Latour should be in prison and this cannot wait any longer.

jules
Guest
jules

The cops in Cornhole ganged up on Perry Dunlop and Perry was trying to protect kids even though he may have gone on a few wrong turns in the investigation. Cops from Toronto and such places have to go to Cornhole and investigate and even take over the town. Cornhole cannot stand on its own anymore because of all the corruption. A town divided cannot stand just like a country divided cannot stan

David Oldham
Guest
David Oldham

Most criminals have a disdain for the law.

David Oldham
Guest
David Oldham

Odd…Cornwall has one of the largest police forces per capita in Canada, if not the largest. Yet they are resource poor? Perhaps it is not resources they lack. Perhaps administration lacks the necessary talent to utilize the resources they are tasked to manage? A dysfunctional pool of councilors lacking ability and leadership likely adds to the dilemma. Any other explanations?

David Oldham
Guest
David Oldham

Personally I would like to see a tender to the OPP for our policing requirements. Better yet the RCMP who look after the majority of Canada anyways. Value for money is questionable in Cornwall when it comes to police services. Taxpayers deserve more. IMO

Hugger1
Guest
Hugger1

Don’t paint everyone with the same brush. How many times does it have to be said? Saying all that live / work here are corrupt is just so wrong. Some never learn. Most try their best. But I guess that isn’t good enough for someone who hasn’t lived here in decades.

Hugger1
Guest
Hugger1

I agree with D.O. We definitely have a dysfunctional pool of councilors lacking ability and leadership likely adds to the dilemma. After approving the police budget council should not be involved in the running of the police service. It is fine to have council reps on the board, but not the mayor. Hidden influence is never a good thing. It should be run independently, not as it is now.

Hugger1
Guest
Hugger1

It certainly isn’t hard to connect the dots. The police board and senior management need to be replaced by a truly independent board and new senior management. How the police board and senior management operate is truly disgusting and adds to Cornwall’s reputation. In this case it is truly warranted.

mike g
Guest
mike g

CALLING HIM MUD NEVER ONCE CROSSED MY MIND.

jules
Guest
jules

Jamie and Hugger if Cornhole has one of the largest cop forces in the country then they should have people trained for investigation. When it comes to law enforcement you cannot get involved with the clique or any favorites. Your job is your job and you have to do it no matter who it hurts. The job has to be done or else someone else will do it for you.

jules
Guest
jules

This morning I went out with my daughter to shop for a few groceries – came over $75.00 but we felt a solemn feeling there after what happened. When you take something that isn’t yours or like what Latour did there are consequences and Latour should be locked up in prison (hundreds of thousands of dollars WHAA!). You would think that he was competing with the likes of Al Capone and others.

Hugger1
Guest
Hugger1

Jules,,,re-read D.O.’s comments. “largest police forces per capita in Canada.” Largest police forces per capita in Canada and largest police forces in Canada are two very different things.

jules
Guest
jules

I hope that the judge throws the book at Holy Cow Gilles Latour and he spends years in prison. Move over Willie another Cornwall convict is facing time in prison as well. There are so many convicts in Cornwall that I am mighty ashamed and would never step down there even for a short visit.