Canada’s AMF

is the body mandated by the government of Québec to regulate the province’s financial markets and provide assistance to consumers of financial products and services.

Back in January the regulatory body issued an iGetMania investment warning,

cautioning investors in Québec about an investment program connected to the Portuguese firm GetEasy Limited and the British firm iGetMania Limited.

In addition to that warning, the IMF also filed a lawsuit against GetEasy, iGetMania, International Finance Corporation and TachoEasy Middle East.

The lawsuit requested the above parties cease and desist operating in violation of Canadian law, until such measures are introduced to bring their business models into compliance.

At the core of the AMF’s lawsuit is GetEasy and iGetMania’s respective Ponzi scheme business models.

Under the guise of renting GPS trackers to non-existent customers, both
GetEasy
and
iGetMania
accept investment from affiliates, on the promise of advertised ROIs.

These ROIs are paid out of newly invested funds, making both GetEasy and iGetMania bona fide Ponzi schemes.

GetEasy illegally offered to the public:

-subscribe via the Internet to one of their “packs of participation” (hereinafter “packs”) to finance and share the profits associated with its particular Geolocators rental activities;

-to recruit two other people, which will in turn be encouraged to recruit two other people and so on (hereinafter the “Member Program”);

iGetMania illegally offered to the public:

-to invest by purchasing a “pack” (hereinafter “Packs Units”) to finance and share the profits Geolocators particular related to its leasing activities;

-to recruit two other people, which will in turn be encouraged to recruit two other people and so on.

TachoEasy Middle East offers illegally to the public:

-to invest in the scheme Valuable idea concept (hereinafter “Vic”) by acquiring “pack of produits” (hereinafter”products Packs”) to get commission of the revenue generated by the products Packs;

-to recruit two other people, which will in turn be encouraged to recruit two other people and so on.

IFC illegally practicing business as an adviser;

The Members Program, the Investor Program and the Program Vic constitute investment contract as defined inthe Securities Act, RLRQ, c. V-1.1 (hereinafter the “SA”).

Of note is that Tacho Easy Middle East is being identified as “VIConcept” in the suit. VIConcept of course being just one of the many
GetEasy reboot schemes
launched in the
wake of its collapse
.

The AMF’s lawsuit is lengthy and methodically deconstructs how GetEasy, iGetMania, IFC and Tacho Easy Middle East violated Canadian securities law.

The AMF first began investigating GetEasy on or around July 2014, so they’ve clearly had time to do their homework before presenting their case.

Court documents reveal the AMF initiated an investigation after receiving ‘
an anonymous tip about GetEasy
‘ on July 24th, 2014.

As part of their inve

🤖 Quick Answer

What regulatory action did Canada's AMF take against GetEasy and iGetMania?
In January, Quebec's Financial Markets Authority issued an investment warning against iGetMania's program linked to GetEasy Limited and filed a lawsuit against both companies, International Finance Corporation, and TachoEasy Middle East, demanding they cease operations violating Canadian law and align their business models with regulatory compliance requirements.

Why did the AMF intervene in these companies' activities?
The AMF, mandated to regulate Quebec's financial markets and protect consumers, initiated legal proceedings because GetEasy and iGetMania were operating investment programs that contravened Canadian legislation, necessitating immediate cessation and subsequent compliance restructuring of their operational frameworks.

Which entities were named in the AMF's lawsuit?
The lawsuit identified four defendants: GetEasy Limited, iGetMania Limited, International Finance Corporation, and TachoEasy

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