The allegations against Baazov, charged earlier this year following an investigation into accusations of insider trading, are contained in an amended 105-page document that L’Autorite des marches financiers (AMF) filed with the independent tribunal overseeing Quebec’s financial sector.
“Several sophisticated agreements were negotiated even before the infractions were committed to pay kickbacks to the tipsters,” alleges the document.
The document was filed as a part of a case against 13 other people, including Baazov’s brother Josh, who were imagined to have used their access to information to harvest nearly $1.5 million in profit over five years. Those 13 people haven’t been charged but was ordered to not trade shares or gain access to proceeds from their activities. The tribunal is holding a hearing next week to talk about the AMF document.
The AMF says it bases the allegations within the document upon reviewing emails and text messages at the side of trading activity among various people.
It alleges that between Dec. 28, 2010, and January 2016, Baazov, his brother Josh and 3 others passed on privileged details about Amaya and acquisition targets, corresponding to Cryptologic Ltd., Chartwell Technology Inc., WMS Industries Inc., BWIN.Party and the Intertain Group Ltd.
More at CTV News
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