MONTREAL – The lead investigator in the insider trading case against associates of the online gambling company Amaya is expected to face tough cross-examination when a Quebec securities tribunal hearing resumes today.
Ian Robertson, a spokesman for former CEO David Baazov, whose lawyer will do most of the grilling, says he has lots of questions.
The lawyer, Sophie Melchers of Norton Rose Fulbright, is aiming to punch holes in the case put forward by the province’s securities regulator, L’Autorite des marches financiers.
The hearing is slated to continue for two days, including closing submissions from lawyers.
The AMF alleges that 12 people used access to privileged information about impending Amaya acquisitions to reap nearly $1.5 million in profit over five years.
No charges have been laid against the 12 individuals. But several bank and trading accounts have been frozen since March while the AMF continues to investigate.