Ex-Amaya CEO David Baazov’s insider trading trial underway

Former Amaya Gaming CEO David Baazov’s insider trading trial is finally underway, but how long it lasts remains anyone’s guess.

On Monday, Baazov and his two co-accused – fellow Amaya exec Benjamin Ahdoot and financial advisor Yoel Altman – appeared in a Quebec court for the scheduled start of their criminal trial for insider trading, much of which stems from Amaya’s 2014 acquisition of the parent company of online poker giant PokerStars.

Before the proceedings could get underway, Judge Salvatore Mascia had to deal with Baazov’s attorneys’ request that the charges against their client be stayed. Baazov’s team accused Quebec’s securities regulator, the Autorité des Marchés Financiers (AMF), of waiting until late September to dump 16m pieces of evidence in their laps, leaving them no time to properly analyze it all before trial.

A 2016 Supreme Court of Canada ruling sought to put caps on the length of time it takes for defendants’ cases to wind their way through the courts. Baazov was originally charged in March 2016, and Baazov’s team expressed concern that the late document dump will require further delays that could see the trial extend past mid-2018.