Home I Poker I Former Amaya Gaming CEO David Baazov Trial Date Set
After two years of proceedings and talks, the Canadian court has set a date for the trial against former Amaya Gaming CEO David Baazov.
Judge Claude Leblond has set a start date for a trial against David Baazov and his two co-defendants. The trial is set to begin on November 20 and expected to take about 13 weeks to reach its end.
The attorneys for the Autorité des marchés financiers (AMF) claim that this will be the “largest insider trading investigation in Canadian history”. They plan to call around 50 witnesses. Employees of Amaya’s investment bank, Canaccord Genuity Securities, and at least one previously unnamed informant will testify.
The trail will not only be prolonged by the large number of witnesses. It will be held in French as the case is a penal proceeding under Quebec’s securities act.
Judge Leblond stated that there will be an attempt to seat a bilingual judge so that the translations won’t waste additional time. The evidence in this case will be presented in English which could add additional time to the trial.
The case against Baazov dates back to 2014 when the largest online gaming transaction in the industry’s history took place.
Baazov lead Amaya Gaming in the process of buying out PokerStars, which was privately owned at the time. Negotiations between Amaya and the Scheinberg family were swift and ended in a $4.9 billion transaction. After the transaction, Amaya became the sole owner of PokerStars’ online operations and all other properties.
David Baazov, Benjamin Ahdoot, and Yoel Altman allegedly used insider information about the acquisition to gain an unfair advantage on the stock market.
In addition to charges of insider trading and attempting to alter the fair market price of Amaya’s stock, Baazov is also faced with charges of communication of privileged information.
Although the court has set the trial date, there is still a possibility of AMF and the defendants striking a deal. Baazov and his co-defendants face huge fines and potential jail time if convicted.
The Betway Free Bet Club rewards players for placing bets. Sign up and spend at least €25 on any trebles in a week and get €10 in free bets.
Coral is a traditional UK bookmaker. They offer a great bonus for their new customers. The Coral Free Bet gives you £20 if you bet £5.
Chelsea will take on Manchester City tomorrow. Will they be able to pull off the upset on Saturday? Let’s find out in our betting preview of this game.
SBOBet is one of the world's most popular Asian handicap bookmakers and new customers can claim an up €200 first deposit bonus.
Best Poker Offers
100% up to $500
100% up to £200
100% up to $400
100% up to $2500
100% up to $100
100% up to €1000
100% up to $2,500
VIP-bet Tipster Competition
Submit your email and receive our daily freebet offers!
VIP-bet is a new and enthusiastic sports betting community. We provide you with an all-around service including the best sports betting deals, generous promotions, in-depth reviews, betting strategy, sports betting guides, streams and much more.
Our main goal is to equip our members with content and knowledge that allows them to become successful in sports betting. In addition, we also want to keep you entertained.
Make sure to check out our free Tipster Leaderboard and please do not hesitate to contact us if you have any questions or feedback.
© VIP-bet 2018