Published On: Tue, Dec 12th, 2017

Baazov Insider Trading Case Begins

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The trial of David Baazov the former CEO of Amaya Gaming got underway on Monday, Baazov along with two others are charged with insider trading relating back to the 2014 acquisition of PokerStars.

Baazov and fellow accused former Amaya exec Benjamin Ahdoot and financial advisor Yoel Altman deny all charges in the case.

As soon as the trial begin Baazov defence attorneys requested that the trial be stayed as prosecutors have not given them enough time to review and prepare on the 16 million documents they gave them in September.

With a previous Supreme Court ruling on the length of time a defendant can remain on charges and in trial the defence argue there will not be enough time to complete a proper and fair defence.

However prosecutors for the Autorité des Marchés Financiers (AMF) the securities regulator who investigated the charges say that it was a mistake and only 2 million documents should have been given to defence attorneys as the other are not directly related to this case.

The judge in the case Salvatore Mascia allowed the trial to continue but is still considering the motion by the defense to stay the trial and charges by saying, “I am not able to comment on the chances of success” of the defense motion, “but, at face value, I’m not able to say it’s frivolous.”

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