Josh Baazov, David Baazov’s elusive older brother, that is additionally a suspect in the AMF case against.
AMF, the Canadian financial regulator, yesterday executed search warrants against 13 new individuals suspected of alleged involvement in securities fraudulence Amaya that is concerning stock dating as far back as 2011, well ahead of 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 while in possession of privileged information, or they leaked information that is privileged potential mergers and acquisitions involving Amaya Inc.
‘In all,’ in all, it continued, ‘they are alleged to have realized a profit of close to CA$1.5 million ($1.13 million) between 2011 and 2016.’
This shows 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 2010, at $1 a share july. Last year, it purchased both Chartwell Technology and Cryptologic, even though latter deal was not finalized until very early 2012.
Josh Baazov’s Questionable Past
In 1993, at the age of 24, Ofer aka Josh Baazov served ninety days in prison for four counts of cocaine possession. Several years later, a court that is federal Ohio ruled that their telemarketing company had scammed senior citizens into the Midwest out of thousands and thousands of bucks.
Baazov apparently lured them to simply take out subscriptions that are expensive return for valuable gifts, except those gifts were never delivered, according to the court. At that point, the judge ordered Josh to pay $777,000 in restitutions to his victims.
But Canada’s Globe and Mail news site, which has covered the AMF investigation assiduously since the regulator first raided Amaya’s offices in December 2014, recently discovered that Josh Baazov had not paid one cent towards the compensation order.
Links to Amaya
Amaya has rejected that Josh Baazov, whose brushes that are previous regulations would preclude him from obtaining a gaming license himself, has ever been an employee or a shareholder for the company.
But he was once described by a business that is former of both Baazovs, Albert Jan, as a ‘founder’ associated with 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 various capabilities, heading back as far as 2012.
Additionally named by the AMF is Craig Levett, a longstanding company partner of both Josh and David’s, who had been photographed with Josh Baazov on a journey to your Dominican Republic in 2012 to advertise Amaya’s online casino products to casino officials.
Amaya is standing behind its CEO, who claims he will ‘vigorously contest’ the fees against him.
Philippines Casino Executive Charged with Cash Laundering in Nyc Fed Reserve Bank Cyber Heist
Philippines casino scandal: Kim Wong, president for the Philippines-based Eastern Hawaii Casino, is faced with money laundering vast amounts taken in the Fed Bank cyber heist. (Image: newsinfo.inquirer.net)
A top-ranking Philippines casino professional is facing money laundering charges for their 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 the requests were actually processed before the scheme ended up being recognized, and 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, along with Chinese junket operator Weikang Xu. Wong is accused of withdrawing around $21.6 million of the funds from his personal and accounts that are corporate.
Meanwhile, Xu reportedly received $30 million from one associated with the RCBC accounts, of which he passed $29 million to Solaire.
Wong, who’s understood to be ‘abroad,’ has said that he’s ‘ready and willing’ to the Philippines to offer his testimony.
‘It is our impression that some very powerful people are afraid of what our client will disclose, this is exactly why a untimely instance had been filed against him,’ Wong’s lawyer Victor Fernandez said this week. ‘ They probably think that filing the case will deter our customer from coming home and testifying before the Senate. They’ve been incorrect,’ he stated.
But Philippines Senator Sergio Osmeña III believes that Wong is the ‘missing link’ in case.
‘There is an orchestrator here, a mastermind, and right now, it looks want it’s Kim Wong,’ Osmeña told reporters. ‘But we need to offer him a chance and let him come right back from his trip abroad to testify before the committee.
‘He’s a player that is big this,’ the senator included.
Also under scrutiny is RCBC manager Maia Santos-Deguito, whom allegedly did not stop payments from the ny bank, plus in reality proceeded to approve the fund transfer to gambling enterprises, despite the stop payments notice from the Federal Reserve. Deguito claims that Wong individually asked her to open the RCBC accounts through which the amount of money passed away, using fictitious names.
She additionally advertised that she processed the transactions because her family had been threatened, although she later retracted this statement at a hearing of the Philippines Senate.
The scandal has increased calls for reforms to the united states’s banking and casino companies, which, unlike many elsewhere, are under little obligation to report suspicious patterns, or deals over a specific threshold, in the name of consumer privacy.
New Hampshire Gambling Bill Dead for 2016, State Opts Instead to invest in War on Drugs
Once a famed horse racetrack, one state lawmaker was attempting to bring legal New Hampshire gambling towards the Rockingham Park site, but the bill failed this week. (Image: Samantha Goresh/Concord Monitor)
New Hampshire gambling proponents have once again destroyed their fight to bring casino-style that is commercial to the ‘Live Free or Die’ state. Though brand New Hampshire has a continuing state lottery and enables charitable games of chance, it’s certainly one of simply seven states that does not 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) attempt that is latest to legalize video lottery machines and table gaming. SB 551 would have licensed just one gambling that is single in the complete state, but a lot of D’Allesandro’s constituents nevertheless could not get on board.
A longtime advocate of legalizing New Hampshire gambling, D’Allesandro might have experienced enough.
‘This is a labor I have placed my heart and soul into for a time that is long’ the lawmaker told the Concord Monitor paper. ‘I’m not going doing this too many more times.’
Rockingham’s Storied Past
D’Allesandro has introduced gambling bills for many consecutive years, every one of which have actually failed to gain the support that is necessary 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 competition at your website.
Like numerous other tracks across the nation, Rockingham fell on a down economy following the 2008 recession that is economic horse race ceased during 2009. Today, the as soon as famed track simulcasts races and hosts poker tournaments seven times per week, with proceeds benefiting local charities.
Charitable games are of course never as appealing to experienced players being a percentage that is large of buy-in would go to charity instead of the pot.
Supporters of allowing Rockingham to enable non-charitable tables and video lottery games argue amending the present law would generate $100 million yearly in new revenues. Rockingham should indeed be situated in 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 city that is largest.
Rockingham now faces a fate all too common in today’s horse racing industry: closing.
‘I remember whenever 25,000 people a would come,’ d’allesandro said day. ‘We all want to spend cash but no one wants to raise it.’
War on Drugs
While lawmakers in brand New Hampshire don’t budge on gambling, they did tackle a subject that is certainly much more dire. The Senate voted unanimously on Thursday to spend $5.1 million to fight the ongoing opioid epidemic.
This new Hampshire Department of wellness and Human Services will collect $4.5 million to be properly used 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 is going to be used to endow a peer-to-peer recovery initiative.
Warranted or perhaps not, the stigmas that can come with commercialized casinos might have impacted the vote that is close bringing legalized gambling to New Hampshire.
Online Gambling Profit Speed Creates False Sense of Real Cash Potential at Land-Based Casinos
After lower than a dozen spins, we scored a 16,375 win for a 750 credit bet, maybe a little bit of proof that on the web gambling winnings prices are far greater than physical slot machines. (Image: hollywoodcasin.com)
Free online gambling slots and other various formats come with much better odds than you will find in a real brick-and-mortar casino. Which shouldn’t come as a shock, as gambling organizations design the Internet offerings to entice gamblers that are new their real cash floors.
It seems harmless sufficient to offer those playing for fun more opportunities of striking the jackpot, but the truth is the better itâ€™s likely being accused of leading to a rise in gambling addiction.
‘When it comes to gambling, the easier a game is to realize the worse the chances usually are,’ the Wizard of Odds website states. With slots, most of the player must do is simply press a key, and that tremendous ease and fast rate of play means ‘there is no quicker solution to lose your money.’
While slots in a casino that is physical with the worst odds in the whole building, at online fun money gambling enterprises they truly are slightly better and might create a false feeling of real winning.
‘Social gaming raises concerns because there is still a risk of utilizing it compulsively,’ nationwide Council on Problem Gambling Executive Director Keith Whyte told the Boston Globe this week. ‘It’s the action of gambling that is addicting, maybe not the rewards.’
Plainridge’s Plain Jane
The very first casino that is commercial in Massachusetts, the Plainridge Park Casino slot parlor opened its doorways last June. The facility, which accompanies the Plainridge harness-racing horse track, offers over 1,200 machines that are slot.
Nevertheless, through its parent business Penn National Gaming, Plainridge now allows players over the national country to play for fun on its Hollywood Casino online internet site. Critics have quickly pointed to the site’s superior odds compared to exactly what players will see on the real Plainridge floor.
‘In the event that games look the same and sound the same, but the payback of one is much lower, then that’s misleading,’ brand new York University professor and gambling addiction author Natasha Schull said.
Problem addiction and gambling is without question a stigma in america and something deserving of a wider discussion. As gambling in the nation has expanded within the decade that is last campaigns to curtail video gaming dependency have increased, 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 mind, perhaps not over it. If you or some body you know is a degenerate gambler and wants help, call 1-800-Gambler.’
Tropicana has since omitted your message.
Not Our Problem
Earlier this month, Casino.org reported in the undeniable fact that while March marks Problem Gambling Awareness Month, Plainridge still had not implemented its promised problem gambling system.
In conformity to its certification by Massachusetts, Plainridge must adopt a strategy that is responsible curb reliant gamblers. Penn National presented a ‘play management’ program that will allow players setting restrictions and time https://wheresthegold.org/5-dragons/ limitations, but the system has still not been incorporated into the slot machines.
Plainridge is underperforming in its very first 12 months of operation. The venue was anticipated to come up with $300-500 million in tax income this 12 months, but is on rate to get under $200 million.