Former Amaya Gaming CEO David Baazov was a beard for his brother’s shareholdings in the online gambling company, according to Quebec’s securities watchdog.

Baazov’s criminal trial on insider trading charges isn’t scheduled to begin until November, but Quebec securities regulator Autorité des marchés financiers (AMF) says it has obtained evidence that three-quarters of Baazov’s Amaya shares were actually owned by his brother Ofer ‘Josh’ Baazov and Ofer’s longtime business associate Craig Levett.

According to court filings viewed by La Presse, the AMF claims that one of their evidentiary raids produced a mobile phone belonging to Ofer that contained a copy of a 2007 agreement granting David Baazov 100% of the shares in Amaya, but 75% of these shares were to be held on behalf of Ofer and Levett.

The agreement reportedly includes a stipulation that neither David Baazov nor Amaya could make major decisions without the approval of Ofer Baazov or Levett, while also granting the latter two total access at all times to Amaya’s financial books and business records.