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Amaya CEO David Baazov Charged With Insider Trading


24 March, 2016 | 15:13 от Aleksandra


 

david_baazov

David Baazov, CEO, the president and board chairman of Amaya, has been charged by Autorité des marchés financiers with five charges in June 2014.

The investigation started the same year, and now there are enough evidence to charge Baazov and others with insider trading, including “aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya inc., and communicating privileged information.”

The rest of the investigated group are Benjamin Ahdoot, Amaya’s Vice President of Government Projects, faces four charges, Yoel Altman, Pinetree Capital Senior Analyst, is charged with six. Diocles Capital Inc. is looking at five counts, while Sababa Consulting Inc. and 2374879 Ontario Inc. are both facing three charges.

David Baazov released a statement:

“These allegations are false, and I intend to vigorously contest these accusations.  While I am deeply disappointed with the AMF’s decision, I am highly confident I will be found innocent of all charges.

I have always been proud of my reputation for personal integrity and ethical business conduct.  As the founder, President and CEO of Amaya, I want to provide my personal assurance to all our of stakeholders, including our employees in Canada, the US, and Europe, our more than 100 million playing members, vendors, and our public security holders that I am as confident as ever in Amaya’s business operations and future prospects.

Amaya also responded to the charges:

“Amaya does not anticipate the charges will have any impact on the management or day-to-day affairs of the operating business. Operations continue as usual, and there will be no change to the PokerStars or Full Tilt product offerings, either in customer experience, player fund security or game integrity. Amaya will continue to communicate with its regulators and does not currently anticipate any material negative impact on its current or potential licenses, approvals or partnerships as a result of the allegations against Mr. Baazov.”



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