Tuesday May 3,2016 : AMAYA CHIEF ENTERS NOT GUILTY PLEA ON INSIDER TRADING CHARGES (Update)
Baazov, two associates and three companies enter not guilty pleas on Autorité des marchés financiers charges.
The voluntarily suspended CEO of Amaya, David Baazov (35), along with two associates and three companies have entered not guilty pleas in regard to charges of an insider trading nature pressed by the Quebec financial regulator Autorité des marchés financiers.
The regulator announced the submission of the pleas Monday, recalling that the securities-related charges were laid in March this year following a long and intensive investigation.
Five offences have been filed, including aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya and communicating privileged information.
23 charges have been laid against three people — Baazov, Yoel Altman and Benjamin Ahdoot — and three companies: Diocles Capital Inc., Sababa Consulting Inc. and 2374879 Ontario Inc., said AMF spokesman Sylvain Theberge.
Ahdoot and Altman are facing four and six charges respectively, including for trading while in possession of privileged information and influencing or attempting to influence the market price of Amaya securities.
Diocles Capital is facing five charges of trading while in possession of privileged information and influencing or attempting to influence the market price of Amaya securities. Sababa Consulting Inc. and 2374879 Ontario Inc. are facing a total of three charges for trading while in possession of privileged information.
Theberge said the case will soon be forwarded to the Quebec courts for the selection of a judge and setting of trial dates.
Baazov, who earlier this year took an indefinite paid leave of absence from Amaya in order to fight the charges, has consistently denied any wrongdoing.