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Canada: David Baazov sues financial regulator

Published by

June 10, 2019 7:29 am

Canada

David Baazov filed a complaint against the Autorité des Marchés Financiers (AMF). The former head of Amaya is demanding €1.32 million in compensation for “malicious” allegations.

The saga around David Baazov has not yet ended. After the lawsuit against Insider Trading failed spectacularly last summer due to formal errors, the former CEO of Amaya (now The Stars Group) goes on the offensive.
According to the Toronto Star newspaper, Baazov filed a lawsuit against the Autorité des Marchés Financiers. David Baazov accuses the Financial Supervisory Authority of “abusing” and “maliciously” acting. Baazov wants to see C$2 million (€1.32 million) as compensation.
David Baazov played himself into the limelight in 2014. At that time Amaya took over Oldford Group Limited. The small Canadian company put a whopping $4.9 billion on the table for the parent company of PokerStars and Full Tilt Poker.
There were rumors of a takeover in advance, but the FSA suspected that Baazov was telling friends about the deal and that they were buying shares in Amaya in advance.
In December 2014, the AMF, along with the federal police, paid a visit to Amaya Gaming headquarters. Computers and documents were confiscated. In March 2016, the AMF filed a lawsuit against David Baazov.

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