Insider spekulieren sogar, dass Josh Baazov der eigentliche Chef bei Amaya sei und sein kleiner Bruder nur das Aushängeschild ist. Kurz nachdem ihn die Autorité des Marchés Financiers (AMF) in fünf Fällen wegen Insiderhandels angezeigt hat, hat David Baazov freiwillig. Josh Baazov Brother to David Baazov Craig Levett Nahtalie Bensmihan Isam Mansour Mona Kassfy Allie Mansour John Chatzidakis.
Online Poker – weitere Vorwürfe gegen David BaazovDer Name Baazov taucht in den Panamapapieren auf Bruder Josh von ihren Handelsprivilegien von der Börsenaufsicht in Amayas. David Baazov (georgisch: დავით ბააზოვი ; –) war eine Verfahren gegen Ex-PokerStars Chef David Baazov eingestellt. Bis August Josh Arieh. Die Verhandlung gegen David Baazov startet erst im November. Dass Josh Baazov die treibende Kraft hinter Amaya war, wurde im Übrigen.
Josh Baazov Les plus populaires VideoJosh Milovanov - Day in the Life
Fund managers who "go over the wall" to discuss details of potential deal investments are required to sign documents confirming they will not disclose confidential details.
Amaya's bid called for so many billions of dollars of debt and equity investments that the company's bankers, sources said, were forced to cast a wide net to find enough investors comfortable with higher-risk securities.
The more fund managers that were approached, the greater the risks of a potential leak. By mid-May, Amaya's stock price and trading volumes were climbing.
Near the end of the month, speculation was so rampant that analysts and industry blog writers were predicting that a significant acquisition was in the works at Amaya.
Blog writers and analysts were not the only people banging the takeover drums. A handful of fund managers contacted by The Globe said they were swamped with calls and e-mails from brokers and officials at small Toronto brokerage firms with news of the pending deal.
One Toronto hedge fund executive received an early morning e-mail on May 26 from an official at a small brokerage with the subject line: "PokerStars and Amaya Gaming Talking Acquisition.
How does one call the OSC and get them involved? Trading in Amaya's stock was so heavy that day that the company was prompted by market regulators to issue a statement.
The company's said it regularly reviewed acquisitions, but there was "no assurance" a transaction was imminent. Late on the evening of June 12, Amaya announced one of the worst-kept takeover secrets of the year.
In the coming weeks and months, David Baazov, the year-old college dropout from West Montreal, was celebrated by international media as the brash new "Prince" and "King" of online gambling.
Four days after the company announced the PokerStars deal, Bay Street's self-regulator, the Investment Industry Regulatory Organization of Canada IIROC , received an anonymous letter.
According to an AMF warrant, the letter alleged that insider trading had occurred in the company's stock. Three days later, an anonymous whistle-blower made a similar alert to IIROC's counterpart in Quebec.
By the end of June, the AMF quietly issued an investigation order targeting 10 unnamed individuals for possible improper stock trading.
Within a few weeks, undercover investigators were following suspects from Manulife's Dorval branch and other unidentified individuals to local bars and homes.
On one surveillance trip, investigators followed an unnamed individual from a home in the West Montreal suburb of Pointe-Claire to the parking lot of Amaya's head office.
It has been almost a year since AMF investigators found themselves in Amaya's parking lot. The regulator has issued no allegations and each of the three companies targeted in the probe has completed internal investigations.
Spokespersons for Canaccord and Amaya say their companies have found no evidence of improper conduct by employees whose actions or personal stock trades have drawn the attention of the AMF or FINRA.
A spokesman for Manulife said the company provided the AMF with a comprehensive so-called gatekeeper's report on the trading activities of its targeted brokers and other staffers.
All but two of the employees continue to work at the branch. Amaya is a much-changed company since the PokerStars acquisition.
It has sold or announced plans to spin off the major divisions, Cadillac Jack, Cryptologic and Chartwell, that David Baazov guided the company to acquire in recent years.
The company has beefed up its small executive team with senior executives from PokerStars. Throughout all these changes and regulatory challenges Amaya's stock has been as unflappable as a champion poker player.
News of the AMF search warrants and the regulator's targeting of Mr. Sebag sparked brief selloffs affecting the company's share price.
After each blow, the stock recovered. PokerStars takeover last summer tripped alerts on the U. FINRA, which is not investigating the investors, has circulated the names of those listed to Amaya and its deal advisers, who are required to answer questions about any possible connections with the investors.
Typically, FINRA passes the results of these surveys to the Washington-based Securities and Exchange Commission and, if relevant, foreign market regulators.
Some FINRA-listed investors barely know the Montreal company, others have connections. Andy Roddick: When The Globe and Mail called the former tennis champion's agent, his San Diego-based financial manager Phillip Meyers replied that it was his decision to invest in the Montreal company on behalf of his client.
He said Mr. Roddick remarked, "What's Amaya" after The Globe's inquiry. Meyers said he "knew of no non-public information about Amaya" when he traded the company's shares between April and July, He said he was drawn to the stock because of "unusual high volume patterns with upside price momentum.
Intertain: Online gambling company Intertain was created in February, , out of discarded assets from Amaya, which continues to own a minority stake in the company.
Fielding says he had no material information about a deal and very little direct knowledge of Amaya.
James Walker, who resigned as a director in February, , of Intertain's predecessor company, declined to discuss his trades in Amaya other than to say "nothing untoward has happened.
Aston Hill: Three senior executives and one director of the small Toronto fund are listed by FINRA as Amaya investors.
One Aston Hill director is Mr. Fielding, the Intertain director. Another is Aston Hill president Ben Cheng. He told The Globe "I have never owned shares in Amaya.
If anyone at Aston Hill purchased shares in Amaya following the signing of the NDA non-disclosure agreement they were not privy to any confidential information about Amaya.
Steve Vannatta, an Aston Hill portfolio manager who recently moved to Redwood Asset Management, did not respond. JC Clark Adaly Trust Fund: The Toronto fund reported a per-cent gain in thanks to a "substantial" investment in Amaya.
Colin Stewart, CEO of JC Clark Ltd. In a fund commentary published in December, , the firm dismissed the notion that the Quebec securities regulator's insider investigation would amount to much.
David Baazov's friends and associates: The FINRA list cites three individuals who are close friends and associates of Amaya's CEO Mr.
One investor is Yoel Altman, who has been a lender and adviser to the company for years. Amaya said in a statement to The Globe that Mr. Altman was not an adviser in the PokerStars takeover.
Altman has not responded to requests for comment. Another is Shan Ahdoot, who is related to Mr. Baazov's childhood friend Benjamin Ahdoot and once touted Mr.
Baazov as a director of his publicly listed tech company EXO U Inc. Baazov later declined the offer. Ahdoot did not return a request for comment.
Another investor is Craig Levett, the Montreal businessman who was an initial investor in Amaya's predecessor company and who has had many business dealings with Mr.
Baazov's older brother Josh. He did not respond to a request for comment. Close Local your local region National.
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Calendar All event types Comedy Festival Food Music Sports Theater Virtual Other. Search Submit search Quick Search. Until the AMF presents its information in court , such theories are just speculation.
Josh Baazov apparently has a history of unethical and illegal conduct. In , he was charged by the U. Federal Trade Commission for running illegal telemarketing scams.
Josh Baazov was one of the people arrested in those investigations. Globe and Mail also reports that none of that money was ever repaid to the victims.
The software company released a statement disclaiming any official connection between Amaya and Josh Baazov. That is the official line, but unofficial sources claim otherwise.
David Baazov is faces charges that include insider trading , securities fraud , and falsifying investor information. In a new twist in the case that keeps on giving, David Baazov, may not have been the sole owner of Amaya as he claimed.
Essentially, David Baazov was listed as the sole owner of Amaya back in In practice this would mean that Josh and Levett would have had voting power and partial control of the company.
This is not good for David Baazov, since it would make the license applications, in which he claimed the owners of Amaya had no criminal convictions, inaccurate , because it turns out his brother Josh has lived a life.
He is not the kind of person who instills your average regulator, or indeed, venture capitalist with confidence. However, most regulators nowadays look straight through nominee agreements to the de facto owner, not whoever is listed on the share certificate.
Which is what it would appear Josh himself was doing, as there are reports that he claimed to represent Amaya on various occasions.
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