David Baazov, former CEO of Amaya Inc., will appear before Quebec court, which takes place in November. Baazov is charged with 5 clauses of the article about fraud with securities.
Autorité des Marchés Financiers (AMF) says that in the period from December 2013 to June 2014, the head of Amaya Inc. and several individuals conspired to fraud in the sale of Amaya securities.
The charges against Baazov have the wording “assistance in transactions using proprietary information, attempts to influence the stock price of Amaya Inc. and transfer of confidential information”.
At the trial against Ex Amaya CEO there are more than 50 witnesses. According to lawyers involved in the case, the trial will last approximately 13 weeks.
In its press release Amaya Inc. management say that they think the charges are baseless and “expect that Mr. Baazov will be fully justified.” Also they are confident that the court trial will not have a major impact on the operations of the company.