David Baazov the founder and former CEO of Amaya has again sold off a large piece of his shares in the company, on Thursday 30th March Baazov sold 12 million shares in Amaya for an average price of $22.31 bringing him $200 million for the sale.
Earlier this month he sold 7 million shares in Amaya raking in $99 million and marks the virtual end of his involvement in the online gambling giant as he has only 5.6 million shares left representing only 3.8% of the company and observers believe this will be sold very soon also.
Currently Baazov is awaiting trial in Canada for insider trading that is set to start later in the year. The move to sell of his shares marks also the set up of an investment company by Baazov called Ahaka Capital and used part of his proceeds from the sale to already invest in UVEye, a US firm that specializes in anti-terrorism technology.
It seems that the former boss is looking to move out of the gambling industry all together after failing to take Amaya private earlier in 2016.
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