Amaya CEO David Baazov charged with insider trading (3/23), steps down as CEO (3/29/16) - Page 2 - Poker News

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Amaya CEO David Baazov charged with insider trading (3/23), steps down as CEO (3/29/16)

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03-23-2016 , 10:09 AM

#26

DaycareInferno

Carpal \'Tunnel

Join Date: Jun 2007 Posts: 18,285

in before someone explains why this is good for recreational players.

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03-23-2016 , 10:10 AM

#27

NerdSuperfly

veteran

Join Date: Nov 2010 Posts: 2,172

opened the thread to find a lot of sore loser comments .. not disappointed

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03-23-2016 , 10:14 AM

#28

42-2KM

centurion

Join Date: Nov 2012 Posts: 182

P/E currently below 7. Time to buy again.

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03-23-2016 , 10:15 AM

#29

Bonobo11

journeyman

Join Date: Jan 2007 Posts: 336

Quote:

Originally Posted by DaycareInferno

in before someone explains why this is good for recreational players.

Actually this is very good for regs.
Baazov will be fired.
Negreanu promoted to CEO and $$$$$ profit!!!

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03-23-2016 , 10:18 AM

#30

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,389

Canada has one of the most lax enforcement records for their equity markets in all of the industrialized world. 60 Minutes did a story a few years ago. So if they're bringing charges against these guys they must have a lot of evidence.

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03-23-2016 , 10:19 AM

#31

MrFan

centurion

Join Date: Jun 2011 Posts: 157

Quote:

Originally Posted by slr940

The bankers and regulators knew about the allegations against him, this is not news.

Also, innocent before being proven guilty, remember that? He has not been convicted yet.

Regulators would have, but the bankers signed off on this before the deal was done so they wouldn't have known. Any restructuring of the debt then it would be known. But my comment still stands as to who the original bankers complain to as Baazov was the one that sold the deal hard.

BTW trading appears to have resumed in AYA. Very sharp fall on the open... http://www.bloomberg.com/quote/AYA:CN

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03-23-2016 , 10:20 AM

#32

oracle3001

adept

Join Date: Nov 2006 Posts: 790

Good luck PokerStars trying to get more states in the US to open up online poker...

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03-23-2016 , 10:24 AM

#33

Zenful

newbie

Join Date: Dec 2015 Posts: 18

This is the nail in the coffin, if the cobwebs of lies and deceit weren't enough since Amaya's aquisition. I look forward to stars representatives trying to justify this kind of behaviour. Any remaining credibility Baazov had has now disappeared, you Mr. Baazov are a criminal of the lowest kind.

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03-23-2016 , 10:26 AM

#34

Top Pig

adept

Join Date: Feb 2014 Posts: 772

funny how all tournaments have disappeared from lobby

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03-23-2016 , 10:26 AM

#35

slr940

centurion

Join Date: Apr 2015 Posts: 104

Quote:

Originally Posted by MrFan

I doubt the bankers are pleased, but it's not like they will call their loans in.

Also, Amaya has had a long time to prepare for this eventuality. I'm sure this has been discussed with the lenders.

Anyone watch the show Billions? Reminds me of it.

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03-23-2016 , 10:28 AM

#36

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,389

In before DNegs tweets "pretty common for public companies with stock holders to have CEOs who commit insider trading. Not sure what more needs to be said about it?"

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03-23-2016 , 10:35 AM

#37

betterlol

journeyman

Join Date: Dec 2012 Posts: 248

Quote:

Originally Posted by pocket_zeros

In before DNegs tweets "pretty common for public companies with stock holders to have CEOs who commit insider trading. Not sure what more needs to be said about it?"

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03-23-2016 , 10:37 AM

#38

lancelott_

veteran

Join Date: Apr 2009 Posts: 2,465

Quote:

Originally Posted by DaycareInferno

in before someone explains why this is good for recreational players.

i laughed so hard omg

Feels a bit like the good olds 2p2 days when i was enjoying NVG hard scrolling through some solid gems.

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03-23-2016 , 10:39 AM

#39

G_W_Hunting0

centurion

Join Date: Jun 2014 Posts: 181

surprise surprise the guy is a scam. Black Friday 2.0, cheating scandals, rigged games..all just a matter of time until we all know better then having huge amounts of money on mafia type internet sites.

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03-23-2016 , 10:44 AM

#40

ShowMeUrAce

grinder

Join Date: Nov 2011 Posts: 530

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03-23-2016 , 10:44 AM

#41

Nick_AA

old hand

Join Date: Apr 2010 Posts: 1,458

Sick plot twist: "dnegs all along has been working with regulators to oust bazov. And the "great things to come 2016" (like a BJ from Angelina Jolie as he put it) was an unguessable turn of events putting bazov in the slammer and catapulting dnegs to president and ceo of Amaya."

In before dnegs tweets - "I am the new Amaya CEO and poker stars rake has been cut in half. SNE's will be made whole with reinstatement of the program. HUNL is back. actual BJ from Angelina for SNEx2"

What are the odds?

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03-23-2016 , 10:46 AM

#42

betterlol

journeyman

Join Date: Dec 2012 Posts: 248

Quote:

Originally Posted by G_W_Hunting0

Best to keep them monies in jars buried under the dog's house is what I always say.

Safest this way. Can't trust anyone these days.

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03-23-2016 , 10:49 AM

#43

Geezer Soze

journeyman

Join Date: Aug 2015 Posts: 361

Quote:

Originally Posted by bhawkdown

this, along with everything else (Amaya running Stars into the ground), implies that at some point PokerStars is going to be owned by the banks Amaya borrowed money from to buy it. they will in turn sell it to somebody else. impossible to know who that might be at this stage but PlayTech (the owner of the iPoker network) has shown interest.

You talking about Teddy Sagi ?

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03-23-2016 , 10:50 AM

#44

vladoivanov

grinder

Join Date: Aug 2013 Posts: 440

So whats the chance that ther will be Black Friday 2.0 in your opinion?

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03-23-2016 , 10:50 AM

#45

Uhrenknecht

Pooh-Bah

Join Date: Oct 2010 Posts: 3,896

Someone pls bring up in court how he stole the SNE money. Kind of the hamburglar.

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03-23-2016 , 10:53 AM

#46

ZachL

veteran

Join Date: May 2012 Posts: 3,058

Innocent IMO

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03-23-2016 , 10:55 AM

#47

slr940

centurion

Join Date: Apr 2015 Posts: 104

Quote:

Originally Posted by vladoivanov

So whats the chance that ther will be Black Friday 2.0 in your opinion?

For players? Not a chance. For shareholders of Amaya, we'll they're down 20% today alone.

The company is not charged with any crime, the CEO is. If he is found guilty he'll get the boot.

Think about it this way: if the CEO of Coca Cola was charged with DUI, would Coke still be on the shelves of your grocery store tomorrow?

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03-23-2016 , 10:56 AM

#48

walkby

adept

Join Date: Oct 2012 Posts: 1,056

PokerStars is a ****ing tragedy, I can't believe how quickly these clowns ruined it. The stupidity surrounding everything is unreal. If this guy is guilty holy **** what an idiot, he acquired one of the biggest cash cows of all time and wasn't patient enough to get the millions coming to him legally. It's like out chipping someone 1000:1 after an all in and then deciding to super-use the last pot. If you're guilty Baazov you deserve everything coming to you.

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03-23-2016 , 10:58 AM

#49

slr940

centurion

Join Date: Apr 2015 Posts: 104

Another thing to think about is that, from my understanding, the CEO didn't personally profit from insider trading. He has never sold a single share of Amaya.

What is being alleged is that he (along with the others accused, including brokers) told others about the deal.

25 or so people have been charged, with total "illegal" profits being abou $1.3 million.

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03-23-2016 , 10:58 AM

#50

Zenful

newbie

Join Date: Dec 2015 Posts: 18

Quote:

Originally Posted by slr940

If the man has any sense he'll step down himself to 'not damage the reputation of the company'. Though prior to today I didn't think it could get much worse - their reputation I'm referring to.

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