AMF’s Delay Urges Former Amaya Gaming CEO to Dismiss the Case

David BaazovDavid Baazov who is the founder, as well as the former Chief Executive Officer of Amaya Gaming, is urging the Quebec court to dismiss the insider-trading case due to unforeseen delays from the prosecution.

Baazov, as well as his lawyers, have filed a petition in October with Quebec court to drop all the charges.

It means that the Amaya Gaming founder wants the Quebec court to stop the prosecution and said that the prosecution side has been exceedingly slow in gathering evidence which has certainly delayed the case to bring to a trial.

Baazov along with 2 other defendants are facing 23 criminal charges of insider trading. The case was filed in March 2016 by Autorite des Marches Financiers (AMF) which is the regulating body in Quebec. The former CEO and founder have been found guilty of 5 counts of securities flaw and charged with possessing insider information that allowed him to manipulate and influence Amaya market price. If all the charges are proved in the court of law then Baazov and two other defendants will have to face prison time and pay a hefty amount as fine.

In February this year, Claude Leblond who is the judge at Quebec Court announced the trial to commence from November 20, 2017, and was speculated to run for 13 weeks. The prosecution took quite a long time in building the case and on September 21, 2017, it has decided to turn 16 million documents to the defence which will be used as evidence in the trial.

According to the lawyers in the defendant’s side, the prosecution has failed miserably in conducting a proper investigation which has certainly delayed the proceedings. Sophie Melchers who is the defence attorney said that her team needs a minimum of 6 months to analyze the documents which are 3.7 terabytes data as provided by the prosecution. It would further delay in the proceedings of the case.

The turned over files pertains to investigations of AMF of more than 12 people and it includes Josh Baazov who is the brother of David Baazov. The data dump is also known by the name Project Bronze. On December 11, 2017, the Quebec court will hear the petition filed by Baazov and his lawyers. If the six months delay is approved by the court, then the hearing of the case is likely to begin from April next year and will conclude in July 2018 with the final verdict.

Last year, Supreme Court of Canada made a ruling which goes by the name Jordan Ruling which states that cases like this should be completed in a time frame of 18 months. If the delays are taken into account, the trial will take 37 months to complete in Quebec court. The prosecution would have to prove the delays are caused by genuine and exceptional circumstances in order to go forward and win the motion of defence to stay.

It is to be noted that due to Jordan ruling in Canada, more than 200 criminal cases have been dismissed by the court of law. Now, it would be interesting to watch which way Baazov’s case would move. Only time will tell whether the Quebec court would dismiss the case or start the trial in April next year. 

Jay Stevens

Jay Stevens

Hi, my name is Adam Jay Stevens. Welcome to Top10-CasinoSites. Explore the online casino world with my site.


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