{"id":43032,"date":"2016-12-16T14:00:31","date_gmt":"2016-12-16T22:00:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=43032"},"modified":"2016-12-16T15:34:36","modified_gmt":"2016-12-16T23:34:36","slug":"david-baazov-attorney-demands-release-insider-trading-details","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/","title":{"rendered":"Baazov Attorney Demands Release of Insider Trading Details\u00a0"},"content":{"rendered":"
\"Baazov
Despite releasing one million documents in relation to David Baazov\u2019s insider trading charges, the AMF is being tight-lipped on the case. This is jeopardizing his right to a fair trial, says his lawyer, who wants the judge to advocate for more disclosure from the agency. (Image: QMI Agency\/ tvanouvelles.ca)<\/figcaption><\/figure>\n

The lawyer for former Amaya boss David Baazov urged the Quebec securities regulator, AMF, this week to reveal more details of its case against their client.<\/p>\n

Sophie Melchers, of Norton Rose Fulbright, representing Baazov, said the AMF had failed to lay out the \u201cfactual basis\u201d for charges against her client and complained it still refuses to disclose specific details, which could ultimately harm her client\u2019s right to a fair trial.<\/p>\n

Melchers complained that the regulator had submitted more than one million documents to the court, but a lack of detail about how these documents specifically related to the case are making it impossible to build a defense.<\/p>\n

Baazov Allegedly Used \u201cFront\u201d to Disguise Illegal Trades<\/b><\/h2>\n

The AMF, for example, has accused Baazov of using a \u201cfront\u201d to disguise alleged illegal insider stock trades in the build up to Amaya\u2019s 4.9 billion takeover of PokerStars<\/a>. Melchers wants the judge to order the AMF to name this front.<\/p>\n

\u201cHe\u2019s being accused of trading via a front that\u2019s not identified, with sums owned by an entity that\u2019s not identified, on dates that are not identified,\u201d Melchers. \u201cAll those ingredients, we don\u2019t know them.<\/p>\n

\n

\u201cToday, nine months after charges were laid, it\u2019s clear that the AMF\u2019s evidence is incomplete,\u201d she added. \u201cWe don\u2019t know the scope of what we should still expect.\u201d<\/strong><\/p>\n<\/blockquote>\n

Melchers believes there needs to be full disclosure of exact dates alleged actions occurred, rather than mere date ranges, as well as more specific information on the actual illegal stock trades Baazov is said to have abetted.<\/p>\n

\u201cKickbacks for Tips\u201d<\/b><\/h2>\n

Baazov, who last month launched a $6.7 billion bid to acquire Amaya<\/a> and take the firm private, was charged in March with five counts of securities fraud relating to illegal stock market trading dating back to 2012.<\/p>\n

The AMF accuses him of being the tip of an information-sharing pyramid that allowed a close circle of family, friends and business acquaintances to profit from illegal stock trades in the lead up to several industry takeovers, including Amaya\u2019s of PokerStars.<\/p>\n

The agency says the so-called pyramid was a sophisticated operation in which the higher level operators took kickbacks for tips on forthcoming mergers and acquisitions.<\/p>\n

Baazov denies all charges and Melchers has previously said the AMF\u2019s case was filled with \u201comission and flaws\u201d and based on \u201cselective information.\u201d<\/p>\n

While, cross-examining an AMF agent, Xavier Saint-Pierre, she goaded her subject into admitting that the case against her client was \u201cpurely circumstantial.\u201d However, if found guilty, Baazov could potentially face up to five years in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"

The lawyer for former Amaya boss David Baazov urged the Quebec securities regulator, AMF, this week to reveal more details of its case against their client. Sophie Melchers, of Norton Rose Fulbright, representing Baazov, said the AMF had failed to lay out the \u201cfactual basis\u201d for charges against her client and complained it still refuses […]<\/p>\n","protected":false},"author":42,"featured_media":43034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,60],"tags":[],"acf":[],"yoast_head":"\nDavid Baazov Attorney Demands Release of Insider Trading Details\u00a0<\/title>\n<meta name=\"description\" content=\"The AMF\u2019s lack of disclosure on the David Baazov insider trading case is jeopardizing the ex-Amaya boss\u2019s right to a fair trial, says his lawyer.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"David Baazov Attorney Demands Release of Insider Trading Details\u00a0\" \/>\n<meta property=\"og:description\" content=\"The AMF\u2019s lack of disclosure on the David Baazov insider trading case is jeopardizing the ex-Amaya boss\u2019s right to a fair trial, says his lawyer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-16T22:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-12-16T23:34:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/12\/confrence-de-david-baazov_16x9_WEB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"940\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/\",\"url\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/\",\"name\":\"David Baazov Attorney Demands Release of Insider Trading Details\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/12\/confrence-de-david-baazov_16x9_WEB.jpg\",\"datePublished\":\"2016-12-16T22:00:31+00:00\",\"dateModified\":\"2016-12-16T23:34:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"The AMF\u2019s lack of disclosure on the David Baazov insider trading case is jeopardizing the ex-Amaya boss\u2019s right to a fair trial, says his lawyer.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/david-baazov-attorney-demands-release-insider-trading-details\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/12\/confrence-de-david-baazov_16x9_WEB.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/12\/confrence-de-david-baazov_16x9_WEB.jpg\",\"width\":940,\"height\":529,\"caption\":\"Despite releasing one million documents in relation to David Baazov\u2019s insider trading charges, the AMF is being tight-lipped on the case. 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