Home / Poker News April 2015 / Amaya Gaming in the Clear after AMF Investigation?
Amaya Gaming in the Clear after AMF Investigation?
Posted by: Randy Williams - Wed, 2015-04-15 14:01
Amaya Gaming, the company behind
Full Tilt Poker and PokerStars, was in the spotlight for all the wrong reasons about 4 months ago, when an investigation by the Financial Markets Authority and the Royal Canadian Mounted Police resulted in an actual search of the company offices situated in Montreal. Now, the company saw it fit to publish a note regarding the incident, stating that the said investigation resulted in no charges brought against them, and no violations of Canadian securities laws and regulations have been found either. In a word: they're in the clear.
The AMF investigation itself was apparently linked to the company's purchase of the Oldford Group, a $4.9 billion move, which - due to its sheer size - was expected to raise an eyebrow here and there. The Amaya Gaming statement also said that the company was confident that at the official end of its investigation, the AMF would reach the same conclusion.
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According to Amaya, the company has from the very beginning of the investigation fully cooperated with the Canadian authorities and will continue to do so for as long as required. A special focus in the investigation fell upon the alleged tipping and insider trading by CFO Daniel Sebag and CEO David Baazov, but according to the Amaya Compliance Committee's Ben Soave, an internal investigation found nothing wrong in that respect either.
According to Soave, no evidence has been produced against any of the company's employees, executives and directors through the above said internal investigation. To make a long story short: Amaya are confident that no one from the outside will find any violations either.
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