MONTREAL — The deal that made David Baazov the man running the largest online poker room in the world could be the deal that costs him his freedom.
More than a year after Quebec’s securities regulator raided the offices of Amaya Inc. in the Montreal suburb of Pointe-Claire, on Wednesday morning the Autorité des marchés financiers finally threw its cards on the table, laying charges related to insider trading against company CEO Baazov and some of the people closest to him.
He’s a brilliant strategist.
“Pursuant to which these proceedings are filed, offenders are liable to stiff fines as well as prison terms,” said AMF president Louis Morisset in a statement announcing Baazov faced five charges for influencing or attempting to influence Amaya’s market price and communicating privileged information.
Comments
Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.
Check your inbox