Financial Investigators Find Uncover Troubling Facts in Amaya Gaming Probe

Financial regulators probing into irregularities at Amaya Gaming have uncovered what they say is evidence of a complex kickback scheme dating back more than half a decade.
If found to be true, the new information could prove to be very bad news for former Amaya Gaming CEO David Baazov. Baazov has been charged with multiple counts of financial fraud and insider trading related to Amaya’s blockbuster deal to purchase the Rational Group (the parent company of PokerStars).
According to a report on Le Presse, a French language newspaper out of Quebec, high-ranking executives at Amaya Gaming regularly provided insider knowledge of the company’s dealings to business associates in exchange for kickbacks. These kickbacks included everything from Rolex watches to stock dividends to old-fashioned cash.
In what could what turn out to be major trouble for Baazov, investigators have uncovered e-mail trails that link Baazov and his associates directly to the kickback scheme. These same investigators described the entire scheme as being extremely sophisticated and well-organized.
Despite its sophistication, the plan had a decidedly human side. In one e-mail from Baazov cronie Craig Levitt to David’s brother Josh, Levitt says:
…this is what we owe to your brother. I have a check for him tomorrow.
Baazov continues to maintain his innocence in the matter. His attorney told Le Presse that his client, “…is innocent, that he did nothing wrong and that he is eager to present his defense in court.
The former CEO is scheduled to appear at a hearing regarding the matter on September 12 in Quebec.