David Baazov Takes Indefinite Leave from Amaya after Insider Trading Charges Emerge

PokerStars LogoNews involving PokerStars has been rampant this week, from the success of the launch in New Jersey to the insider trading charges filed against David Baazov, the CEO of Amaya Gaming, parent company to PokerStars. It has now been announced that Baazov will be taking a paid leave of absence from his position within Amaya, but remain on the board, with the leave indefinite.

Baazov’s leave is voluntary and takes place less than one week after the regulators of Canada filed insider trading charges against him along with several other individuals. The insider trading charges stem from the purchase of PokerStars by Amaya back in 2014.

Amaya Gaming made an announcement yesterday, in regards to the leave of absence by Baazov. In the announcement it stated that Baazov would be taking an indefinite leave of absence, with pay, from the company. The leave was taken voluntarily to allow the CEO to focus on preparing an offer to acquire Amaya Gaming and to avoid a distraction for the company as he prepares to respond to the insider trading charges.

Baazov will remain on the board of directors during the leave and continues to proclaim his innocence. The Autorité des marchés financiers filed 23 charges of insider trading against Amaya, 5 of which focus on Baazov. The charges state that Baazov assisted with trades while being in possession of privileged information. After the charges were made public, Baazov quickly proclaimed his innocence, calling the allegations false and will continue to fight the accusations.

More information on the charges should be released in the coming days or weeks as Baazov tries to fight the allegations. Updates should also be made on the status of PokerStars as they continue to dominate the online poker industry of New Jersey. With so much going on, PokerStars and Amaya Gaming are sure to be a hot topic for weeks to come.


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