Josh Baazov, David Baazov’s elusive older brother, that is also a suspect in the AMF case against.
AMF, the Canadian financial regulator, yesterday executed search warrants against 13 new people suspected of alleged involvement in securities fraudulence concerning Amaya stock, dating as far back as 2011, well prior to the company purchased PokerStars parent Oldford Group.
Among those is CEO David Baazov’s older brother, Ofer ‘Josh’ Baazov.
The AMF released its second bombshell of the day before we’d had time to even fully digest the news that David Baazov was facing five criminal counts of insider trading.
The regulator alleges that the 13 named individuals ‘traded whilst in possession of privileged information, or they leaked privileged information about potential mergers and acquisitions involving Amaya Inc.
‘In all,’ in all, it continued, ‘they are speculated to have realized a profit of close to CA$1.5 million ($1.13 million) between 2011 and 2016.’
This suggests that the scope of the investigation predates the PokerStars acquisition and that AMF is probing previous instances of suspected insider trading in Amaya’s stock.
Amaya first went public on the TSX Venture Exchange in July, 2010, at $1 a share. Last year, it purchased both Chartwell Technology and Cryptologic, even though the deal that is latter not finalized until very early 2012.
Josh Baazov’s Questionable Past
In 1993, at the chronilogical age of 24, Ofer aka Josh Baazov served 90 days in prison for four counts of cocaine control. Many years later, a federal court in Ohio ruled that their telemarketing company had scammed senior citizens in the Midwest out of thousands and thousands of bucks.
Baazov reportedly lured them to just take out expensive subscriptions in return for valuable gifts, except those gifts were never delivered, according to the court. The judge ordered Josh to pay $777,000 in restitutions to his victims at that point.
But Canada’s Globe and Mail news site, which has covered the AMF investigation assiduously since the regulator first raided Amaya’s offices in 2014, recently discovered that Josh Baazov had not paid one cent towards the compensation order december.
Links to Amaya
Amaya has rejected that Josh Baazov, whose previous brushes with the law would preclude him from obtaining a gaming license himself, has ever been a worker or a shareholder regarding the company.
But he was as soon as described by a previous business partner of both Baazovs, Albert Jan, as a ‘founder’ for the company, together with his brother David. Meanwhile, the planet and Mail found instances that are numerous which Josh Baazov has represented Amaya’s interests in different capabilities, going back so far as 2012.
Also named by the AMF is Craig Levett, a business that is longstanding of both Josh and David’s, who was simply photographed with Josh Baazov on a journey towards the Dominican Republic in 2012 to market Amaya’s online casino products to casino officials.
Amaya is standing behind its CEO, who says he will ‘vigorously contest’ the charges against him.
Philippines Casino Executive Charged with Money Laundering in Nyc Fed Reserve Bank Cyber Heist
Philippines casino scandal: Kim Wong, president associated with Philippines-based Eastern Hawaii Casino, is charged with cash laundering millions of dollars stolen in the Fed Bank cyber heist. (Image: newsinfo.inquirer.net)
A top-ranking Philippines casino administrator is facing money laundering charges for his alleged role in February’s $80 million cyber heist on the Federal Reserve Bank of New York.
On 5, computer hackers flooded the Fed with requests to transfer almost $1 billion from an account used by the Bangladeshi Central Bank for international settlements into various accounts around the world february.
Only four of those requests were really processed before the scheme had been recognized, plus some $81 million ended up being moved into accounts at Filipino bank RCBC.
From there, $46 million was laundered through the minimally regulated Philippines casino industry, specifically via Bloomberry Resorts’ Solaire Resort and Casino in Manila, therefore the Eastern Hawaii Casino and Resort in the Cagayan Economic Zone.
Top Executives Implicated
This week, Filipino authorities filed criminal complaints against Eastern Hawaii Casino President Kim Wong, also Chinese junket operator Weikang Xu. Wong is accused of withdrawing around $21.6 million of the funds from their personal and accounts that are corporate.
Meanwhile, Xu apparently received $30 million from a associated with RCBC records, of which he passed $29 million to Solaire.
Wong, that is comprehended to be ‘abroad,’ has said that he is ‘ready and willing’ to the Philippines to offer their testimony.
‘It is our impression that some very powerful folks are afraid of what our client will disclose, that’s why a untimely situation ended up being filed against him,’ Wong’s lawyer Victor Fernandez said this week. ‘ They probably think that filing the situation will deter our client from coming house and testifying before the Senate. These are typically incorrect,’ he stated.
But Philippines Senator Sergio Osmeña III believes that Wong is the ‘missing website link’ in case.
‘There is an orchestrator right here, a mastermind, and right now, it appears like it’s Kim Wong,’ Osmeña told reporters. ‘But we have to provide him the possibility and back let him come from his trip abroad to testify prior to the committee.
‘He’s a player that is big this,’ the senator included.
Also under scrutiny is RCBC manager Maia Santos-Deguito, who allegedly didn’t stop payments coming from the ny bank, as well as in fact proceeded to approve the fund transfer to gambling enterprises, despite the stop payments notice from the Federal Reserve. Deguito claims that Wong really asked her to open the RCBC accounts through which the amount of money passed, making use of fictitious names.
She additionally claimed although she later retracted this statement at a hearing of the Philippines Senate that she processed the transactions because her family had been threatened.
The scandal has increased calls for reforms to the united states’s banking and casino companies, which, unlike many elsewhere, are under little responsibility to report suspicious patterns, or transactions more than a threshold that is certain in the name of consumer privacy.
Brand New Hampshire Gambling Bill Dead for 2016, State Opts alternatively to invest in War on Drugs
Once a famed horse racetrack, one state lawmaker was attempting to bring legal New Hampshire gambling to your Rockingham Park site, but the bill failed this week. (Image: Samantha Goresh/Concord Monitor)
New Hampshire gambling proponents have actually once again destroyed their fight to create commercial casino-style gambling to the ‘Live Free or Die’ state. Though New Hampshire has a continuing state lottery and allows charitable games of chance, it’s certainly one of just seven states that doesn’t offer commercial, tribal, or racetrack gambling to residents.
On Thursday, hawaii Senate voted 13-11 to kill Sen. Lou D’Allesandro’s (D-District 20) latest attempt to legalize video lottery machines and table gaming. SB 551 would have licensed just one single gambling location in the whole state, but a lot of D’Allesandro’s constituents still could not get up to speed.
A longtime advocate of legalizing New Hampshire gambling, D’Allesandro might experienced enough.
‘This is a work I have placed my heart and soul into for a long time,’ the lawmaker told the Concord Monitor newspaper. ‘I’m not going to do this too many more times.’
Rockingham’s Storied Past
D’Allesandro has introduced gambling bills for many consecutive years, each of which have failed to gain the necessary support for passage.
SB 551 sought to return gambling to the Rockingham Park horse racetrack in Salem. First built in 1906, Rockingham has a rich history that includes hosting the famed thoroughbred Seabiscuit though he never won a battle at the website.
Like numerous other songs across the nation, Rockingham fell on tough times following the 2008 recession that is economic horse race ceased during 2009. Today, the once famed track simulcasts races and hosts poker tournaments seven days a week, with proceeds benefiting local charities.
Charitable games are of course not as attractive to seasoned players as a percentage that is large of buy-in would go to charity as opposed to the pot.
Supporters of allowing Rockingham to enable non-charitable tables and video lottery games argue amending the law that is current generate $100 million yearly in new revenues. Rockingham is indeed situated in just what appears to be the perfect locale to attract a considerable number of patrons as the track is just 30 miles north of Boston and 25 miles south of Manchester, New Hampshire’s largest city.
Rockingham now faces a fate all too common in today’s horse racing industry: closing.
‘I remember whenever 25,000 people a day would come,’ d’allesandro said. ‘We all wish to spend money but no one wants to raise it.’
War on Drugs
While lawmakers in New Hampshire didn’t budge on gambling, they did tackle a subject that is certainly much more dire. The Senate voted unanimously on Thursday to invest $5.1 million to fight the ongoing epidemic that is opioid.
The New Hampshire Department of Health and Human Services will collect $4.5 million to be utilized either to fund sober housing programs or increase spending on Governor Maggie Hassan’s (D) Commission on Alcohol and Drug Abuse Prevention, Treatment, and Recovery. The remaining $500,000 and change are going to be used to endow a recovery initiative that is peer-to-peer.
Warranted or otherwise not, the stigmas which come with commercialized casinos might have impacted the vote that is close bringing legalized gambling to New Hampshire.
Online Gambling Win Speed Creates False Sense of Real Money Potential at Land-Based Casinos
After lower than a dozen spins, we scored a 16,375 win on a 750 credit wager, perhaps a little bit of proof that on line gambling winnings rates are far higher than real slot machines. (Image: hollywoodcasin.com)
Free online gambling slots and other various platforms have much better odds than you will find in a real brick-and-mortar casino. Which shouldn’t come as a shock, as gambling companies design the Internet offerings to entice gamblers that are new their real money floors.
It seems harmless sufficient to provide those playing for fun more chances of striking the jackpot, but in fact the higher itâ€™s likely that being accused of leading to an increase in gambling addiction.
‘When it involves gambling, the easier a game is to understand the worse the odds usually are,’ the Wizard of Odds website states. With slots, most of the player must do is definitely press a key, and that tremendous ease and fast rate of play means ‘there is no quicker method to lose your cash.’
While slots in a physical casino come with the worst odds within the entire building, at online fun money gambling enterprises they are slightly better and might create a false sense of real winning.
‘Social gaming raises concerns because there is still a risk of using it compulsively,’ National Council on Problem Gambling Executive Director Keith Whyte told the Boston Globe this week. ‘It’s the action of gambling that is addictive, perhaps not the rewards.’
Plainridge’s Plain Jane
The very first casino that is commercial in Massachusetts, the Plainridge Park Casino slot parlor opened its doors last June. The facility, which accompanies the Plainridge harness-racing horse track, offers over 1,200 machines that are slot.
Nonetheless, through its parent company Penn National Gaming, Plainridge now allows players across the nation to play for fun on its Hollywood Casino online website. Critics have quickly pointed to the site’s superior chances compared to just what players will see on the real Plainridge flooring.
‘then that’s misleading,’ New York University professor and gambling addiction author Natasha Schull said if the games look the same and sound the same, but the payback of one is much lower.
Problem gambling and addiction is without question a stigma in the us and something deserving of a wider discussion. As gambling in the nation has expanded on the last ten years, campaigns to curtail gaming dependency have risen, however the shaming of addicts lingers.
Just this New Jersey’s Asbury Park Press noticed that the Tropicana Atlantic City website called problem gamblers degenerates week.
‘Bet with your face, not over it. You know is a degenerate gambler and wants help, call 1-800-Gambler.’
Tropicana has since omitted the phrase.
Not Our Problem
Earlier this month, Casino.org reported in the proven fact that while March marks Problem Gambling Awareness Month, Plainridge still hadn’t implemented its promised problem program that is gambling.
In conformity to its licensing by Massachusetts, Plainridge must follow a responsible strategy to curb reliant gamblers. Penn National presented a ‘play management’ program that may enable players setting limits and time restrictions, but the operational system has still not been incorporated into the slot machines.
Plainridge is underperforming in its first 12 months of operation. The venue was anticipated to create $300-500 million in taxation income this but is on pace to collect under $200 million year.