Quebec securities watchdog may have botched its insider trading investigation of Amaya Gaming‘s former CEO David Baazov by failing to secure his mobile phone in time.
Tuesday saw the conclusion of two days of hearings by the Autorité des marchés financiers (AMF) into allegations that Baazpv (pictured) and a dozen other connected individuals illegally profited from stock trades based on foreknowledge of Amaya’s deals.
On Tuesday, Xavier Saint-Pierre, the AMF’s lead investigator in the Amaya case, told the hearing that when the AMF and the Royal Canadian Mounted Police seized computers and files from Amaya’s Montreal HQ in December 2014, they belated realized that they’d neglected to include Baazov’s smartphone among their booty.
By the time the AMF realized their error and went back to confiscate Baazov’s phone, they found the device had been “changed.” As quoted by La Presse, Saint-Pierre said that “the content of messages and telephone conversations could not be recovered.”