David Baazov Wants Compensation From The AMF
It would seem as if the man once heralded as the King of Online Gambling, the infamous David Baazov, is intent on saving more than money; he now wants to save face too. After having been acquitted of insider trading charges brought against him by the Quebec securities regulator Autorité des marches financiers (AMF), Baazov has stated his intention of wanting to claim personal damages to the tune of $2 million from the institution.
The money, Baazov has vowed, will be donated to 5 charitable organisations based in Montreal. Whether Baazov is actually convinced that he did no wrong is a discussion for another time, since the charges against him and a group of co-conspirators were tossed following a host of procedural errors made by the AMF as well as the prosecution.
The court wasn’t necessarily convinced of the former Amaya kingpin’s innocence; it had merely become frustrated to the point of throwing in the towel of justice thanks to gross and continued negligence on the part of the plaintiff.
The bench said it all when it referred to AMF’s many failures to perform as having been equal to laxism; in other words, at no point did they do what they were supposed to do or indeed what they had earlier on said they would do.
Keeping Up Appearances
Innocent or guilty, Baazov wants his revenge for money, time and reputation wasted. Only, from an outsider’s point of view, he doesn’t want to appear to want anything of the sort, hence the charity donation route.
In the unlikely event that Baazov really did do no wrong, his lashing out after the fact would be perfectly understandable. Especially when considering that the charges brought against him back in 2016 prevented him from continuing in the position of CEO at Amaya, and later on even tripped up his plans to buy the company and privatise.The former chief in charge must be all the more bitter for it since shortly after the ordeal and its sordid details was brought into the light, Amaya rebranded as The Stars Group; now the most popular Poker brand in the world.
We Will Defend, Says AMF
The AMF has said that it will defend itself as well as its failed defence in the most vigorous way allowed by Canadian laws. Hopefully vigorous will this time round means prudent, on time and on par.