A while ago, I found some court documents regarding a Robert Lachance from Dominion Securities. I wonder if this is the same Bob that our CEO is close to (I believe he is now a director of TTAGIT).

Someone correct me please, if this is not the same Bob Lachance.

I copy and pasted parts of the documents, and saved the link. Interestingly enough the link is now broke, but I will attach it to the bottom of this post for you to check out....it seems the lawyer that posted it was "kindly" asked to remove it.

Anyway, here is what I saved from the documents. I especially like what the judge said about Lachance:

1)THE COURT:-- The appellants Wayne Wile and Michele Cappuccitti were charged in an indictment together with Alan Abernathy, Gerald Kluwak, and Angelo Comi, that they:

... between the 1st day of February, 1985 and the 31st day of July, 1985, at the Municipality of Metropolitan Toronto in the Judicial District of York and at the City of Montreal and elsewhere in the Province of Quebec and elsewhere in the Dominion of Canada did corruptly offer or agree to offer or agree to give to Robert LACHANCE, Registered Representative, an agent for his clients and an agent for some clients of Dominion Securities Pitfield Limited, a reward or advantage or benefit, to wit: the right to purchase shares in a public company named Carolian Systems International Incorporated stock of which was to be traded in the over the counter public market at the City of Toronto and elsewhere in the Province of Ontario and elsewhere in the Country of Canada;

(2)In pursuance of this objective, Wile contacted LaChance who was a registered securities salesman with Dominion Securities Pitfield Limited in Montreal. It appears that LaChance was also a subject of the same investigation in which Wile was involved. Unbeknownst to Wile, however, LaChance had agreed to co-operate with the Royal Canadian Mounted Police (R.C.M.P.) in the investigation hoping that his co-operation would secure him immunity from prosecution. After being contacted by Wile, LaChance informed the officer in charge of the investigation that a new stock deal was being arranged and consented to his private communications with the appellants being intercepted. The evidence obtained through these intercepted communications forms the basis of the charges against the appellants.

(3)With respect to the appellant Cappuccitti, it was the Crown's position that he was a party to the agreement to offer LaChance a secret commission. This commission was to be satisfied, to the knowledge and with the concurrence of Cappuccitti, from shares which Cappuccitti had agreed to transfer to Abernathy and Wile at a reduced price as consideration for their efforts in arranging distribution and promoting the stock. LaChance's ability to distribute the 2.5 million dollars worth of shares was to be accomplished with the co-operation of Cappuccitti and members of his group who, as indicated, controlled a large block of Carolian shares, a part of which was to be made available to LaChance for distribution to his clients. The transfer of the shares from Cappuccitti to Wile and Abernathy and from Wile and Abernathy to LaChance (i.e., the secret commission) was to be effected through off-shore trust accounts set up in the Cayman Islands.

(4) With respect to LaChance's credibility the trial judge said:

With regard to LaChance, as a witness, I wish to say I would not accept any fact as proven, upon his word. While I can understand how a person under the gun would elect to co- operate with the police and even become an agent for the police in order to buy immunity for himself, I find it curious that when testifying against his former associates, he does so with apparent enthusiasm and relish.

Instead of relying upon the evidence of LaChance the trial judge relied upon the recorded evidence

(5) The relevant portions of the electronic surveillance evidence are too long to reproduce in their entirety. Much of the conversation illustrates clearly Cappuccitti's knowledge that the agreed-upon plan called for LaChance to persuade his clients to purchase the shares. A few selected excerpts help to convey the incriminating tone of the conversations as far as Cappuccitti and his knowledge of the secret commission are concerned:

LaChance: Is that gonna, to remain with you here or

Cappuccitti: We haven't worked that out.

LaChance: 'Cause my deal is with them ...

Cappuccitti: I understand that, we haven't worked out the finer details as to where it comes

. . . . .

LaChance: Yeah, let's say, if I had an agreement with you and with Wayne, I wanna know that, that you, you have

Abernathy: This is right. I've been with those

(LaChance and Abernathy talking simultaneously)

Cappuccitti: I see, okay. That, that, you're looking to make sure that that is in place, that agreement

LaChance: Yeah

Abernathy: If I make a deal

Cappuccitti: That agreement will be in place and we can use ahm, a lawyer of your choice, your choice whatever and we can, we hope, we can have the security lodged, how's that?

. . . . .

Abernathy: You wanna make sure that if it's my deal, if I make a deal with you where am I gonna get the paper to keep my deal with you.

LaChance: Right

Abernathy: That is what we will have the contract between us.

LaChance: Yeah.

Abernathy: Now, where we give it to, or who we give it to for, as a deposit or, or a trustee whatever you wanna call it, now that's something that ah, I think we have to discuss and do you want to use one or do you wanna use two

Cappuccitti: I guess, I guess one

LaChance: Well obviously you're

Abernathy: Gonna know

LaChance: You're gonna need one trustee between you two

Abernathy: That's right

LaChance: Now I'm gonna need a trustee

Cappuccitti: Would it be advantageous if you have one trustee for all of us?

. . . . .

In the presence of Cappuccitti

LaChance: What I, and what I'm interested in is if I do everything that's required and yet somebody deemed that you did not do what is required of you, therefore, it doesn't go to you then, then, can't come to me

Wile: Well that, that, that's irrelevant here because that can't possibly happen. That's an impossibility here. Nothing, nothing happens unless everything happens. It's just that simple and what your big concern is

Abernathy: I can't ah, arguing and ah

Wile: That, that's irrelevant. What your big concern is to make sure that, that, that the, the stuff is in place for Al to take care of his deal with you when you complete your part of the thing

. . . . .

Wile: The thing that we always worry about the thing that we always try to do is try to come up with whose doing what to whom and to make sure that they are no surprises anywhere's down the road so that we don't have massive attacks of queasiness and

Cappuccitti: Absolutely

Wile: And everybody that's involved in this thing is smart enough or should be smart enough to know that it only works well if everybody works together and gets the thing done. Bob has always had a little bit of a problem, same as I've had because we're paranoid after seeing what can happen, like 18 times, until we make sure there are no flaws or no mistakes

LaChance: I'm in a position now where I'm spending two and a half million dollars and I want to know whose got what, where it is where it can come out where it could and where it couldn't hit me in the face

Cappuccitti: Hmm

LaChance: My agreement we discussed my agreement

Wile: He doesn't know the prices he knows that you're getting part of our stock position for doing certain things

LaChance: You tell them what it is and

Wile: I don't want them to know

LaChance: Why not

Wile: What's the difference

LaChance: Because I want to know a few things

Wile: Hmm, you can ask me I've already told you what our deal was

LaChance: Whatever you say

Cappuccitti: You're aware what his deal is

Wile: How many shares of stock we've got that, all I've told him basically that, a round ball park figure

LaChance: 700 for me

Wile: 800 with the bonus and the only way we get it was by performing paying and performing, only will you get your's at the prices we've allocated you at, is by performing and paying so everybody performs and everybody pays, or the thing lays an egg. The other thing I've told him is our stock

LaChance: What I'm interested in know what's happening with the stock at this 90 day period that I'm to buy all that stock and hold it if I'm sitting there I can't do anything because that 90 day period that I'm to hold my clients in is there and a whole bunch of stuff is being sold and I can't sell, my clients in even if I do, who can be selling and where's the other rest of the stock going to be in that 90 day period

Wile: I, well

LaChance: I don't need a bunch of clients complaining and yelling and screaming

Wile: As we

LaChance: I'm also don't need Dominion Securities telling me that you know we've been a big factor in the market and what not and having them stick their nose in

Wile: What we have said was we're going to do with our's, shares that we're getting from this clients for our position was going to be held at the Cayman International Trust our monies have been put up in the, the beginning and the shares will flow back and forth from there, there's our stock. They have to put the stock up in trust

. . . . .

Cappuccitti: We changed, we changed ... we never changed our deal

LaChance: Yeah

Cappuccitti: Over our proposed deal on when things started to get better and now of course that we lost 200,000 shares. We still haven't changed our deal. We'd like too, or I'd like to, but I'm not asking to have the deal changed because I think you know it was done in good faith. I think that's the way it should remain, ah

LaChance: I'm not interested in Dominion Securities finding out anything about this at all you know

Cappuccitti: I'm not interested in Merit finding out anything about it and that's why I get fuckin' paranoid

LaChance: Not interested in my clients knowing

. . . . .

LaChance: Okay, I'm sure you being a Registered Rep share my paranoia you know, because I don't need to be ...

Cappuccitti: No absolutely

LaChance: With these things, you know, we're talking about

Cappuccitti: No absolutely

LaChance: Secret commissions holding stock for 90 days and you know withholding buying or selling from the market and shit

Cappuccitti: I know the rules

LaChance: Yeah

Cappuccitti: I know the repercussions and so do you and ah

LaChance: I don't want to be embarrassed

Cappuccitti: No, no

http://www.lawofcanada.net/cases/onca/1990canlii6830