Former Amaya Gaming CEO David Baazov wants a Quebec court to dismiss his insider trading charges due to the delays in bringing his case to trial.
On Friday, the Globe and Mail reported that Baazov’s attorneys had filed a motion with the Court of Quebec on October 17 asking for the charges against Baazov to be stayed because the prosecution has been too slow in bringing the case to trial. The Quebec court will hear the defense motion on December 11, the date Baazov’s trial is set to commence.
In March 2016, Quebec securities regulator Autorité des Marchés Financiers (AMF) hit Baazov and two other defendants with 23 criminal charges of insider trading. The charges are centered around suspicious gains in the Toronto-listed Amaya’s share price in the months leading up to Amaya’s $4.9b acquisition of the parent company of online poker giant PokerStars in June 2014.
Baazov’s trial was originally scheduled to take place on November 20, but prosecutors reportedly waited until September 21 to turn over a hard drive containing 16 million documents to the defense.