A stay of proceedings puts a halt to the legal process and can often be used as means of derailing a trial indefinitely. Lawyers for Baazov had previously requested a trial dismissal, complaining that AMF had bungled document handling, which had denied it reasonable time to prepare a defense.<\/p>\n<\/div>\n
His counsel complained that, in September, just two months before the original trial date, AMF dumped 16 million items of data on them.<\/p>\n
Following the decision on Monday afternoon, both requests have now been denied, meaning that Baazov and his co-defendants will stand trial within a matter of months.<\/p>\n
\u201cIt was very close at home plate but, in the end, I accept the arguments of the [AMF], so I reject the motion,\u201d wrote provincial court Judge Salvatore Mascia in a 22-page ruling.<\/strong><\/p><\/blockquote>\n\u201cThe applicants have not shown irreparable harm to their right to a fair trial and to a full defense,\u201d he said. \u201cThe court therefore comes to the conclusion that the file is particularly complex and the prosecutor has a concrete plan to minimize the delays caused by the complexity of the case.\u201d<\/p>\n
The defense counsel would, however, be given \u201cproper time\u201d to prepare, following September\u2019s data dump. The judge suggested a delay of one month, although he will consult with both parties in due course before determining a trial date.<\/p>\n
The trial will be the biggest insider trading case in Canadian history and the defendants each face large fines and up to five years in prison if convicted.<\/strong><\/p>\nSeveral of the alleged illegal trades relate to Amaya\u2019s $4.9 billion takeover of PokerStars<\/a> in 2014. Amaya’s name change to The Stars Group, which became official last August when the company completed its HQ move from Montreal to Toronto, was in large part to distance itself from its former, and now notorious, CEO in Baazov.<\/p>\n","protected":false},"excerpt":{"rendered":"A Quebec judge has rejected a motion to stay the insider trading case against former Amaya CEO and chairman David Baazov. Baazov was charged in March 2016 with five counts of securities fraud, including \u201caiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of […]<\/p>\n","protected":false},"author":42,"featured_media":68012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,19,60],"tags":[],"acf":[],"yoast_head":"\n
Baazov Insider Trading Case to Move Forward, Judge Denies Stay<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n