Will the real Amaya CEO please stand up?

Canadian media sources continue to turn up the heat on Amaya Gaming CEO David Baazov, painting him as the primary culprit at the heart of the insider trading allegations rocking the online gambling operator.

On Monday, the Canadian Press blasted out a headline indicating Baazov (pictured, in tie) was the “main source” of privileged info that prompted Quebec’s Autorité des marchés financiers (AMF) to file 23 insider trading charges last week against Baazov, Amaya exec Benjamin Adhoot, financial adviser Yoel Altman and three companies.

As reported earlier, Baazov stands accused of funneling insider info regarding transactions with Amaya and six other companies to his older brother Josh/Ofer Baazov (pictured, in pink), who in turn passed the info on to his former bookmaking partner Craig Levett, who used the info to make stock trades that netted Levett and a dozen accomplices an estimated $1.5m in ill-gotten profits.

David Baazov has vehemently protested his innocence, and without seeing the full AMF evidence, his protestations seem grounded in reason. After all, David is Amaya’s single largest shareholder and his holdings dwarf the sum allegedly gained via the illegal trades, so why would he risk so much to gain so little?