Regulator Says Only Circumstantial Evidence Against Former Amaya CEO: ReportBaazov Maintains Innocence In The Case |
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An investigator in the insider trading case against the former CEO of Amaya Gaming, parent company of PokerStars, said last week that there’s only circumstantial evidence against David Baazov.
According to a report from The Globe and Mail, an attorney for Baazov got the admission from the Quebec financial regulator in a hearing Wednesday that there’s no direct proof of him passing on privileged information in an alleged kickback scheme.
The alleged insider trading was to the tune of $1.5 million.
“Today was the first step in setting the record straight,” Mr. Baazov said in a statement. “I would like to reiterate that I did not receive any money, gifts or anything for that matter as it relates to the trading by any of these people in any securities. I look forward to being exonerated and putting this behind me.”
Baazov left Amaya in August after taking a voluntary leave of absence after the charges were filed this spring. “I am proud of my contributions in building Amaya into the successful company it is today, and continue to be supportive of its strategy and management,” Baazov said in a statement after leaving the company.
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