Publication ban lifted on Amaya investigation documents

ebec court has lifted a ban on the publication of a search warrant and supporting affidavit relating to an investigation into provider Amaya Gaming Group’s purchase of Oldford Group in August.

Federal Canadian police and financial regulator Autorité des Marchés Financiers (AMF) visited Amaya’s headquarters in Montreal in December as part of an investigation into the $4.9bn acquisition of the parent company of Rational Group, which was itself the parent company of online operator PokerStars.

AMF was also given search warrants to investigate investment bank Canaccord Genuity, which was involved in the Oldford Group takeover, and insurance firm Manulife Financial which, according to Online Poker Report, owns a 6% stake in Amaya.

Following the lifting of the publication ban of the search warrant and affidavit, the Globe and Mail revealed that AMF won court approval to take possession of all computer memory cards, data keys and other storage devices used by three Amaya employees, the identities of which were redacted in the document.

According to the Globe and Mail, sources familiar with the investigation claim that AMF seized documents and records of communications from Amaya CEO David Baazov and CFO Daniel Sebag.

Ben Soave, a member of Amaya’s compliance committee and an adviser to the board of directors, said that an internal investigation “found no evidence of any violation of Canadian securities laws or regulations including tipping and insider trading by CEO David Baazov and CFO Daniel Sebag as well as its directors, officers and employees. Additionally, the company has not been provided with any evidence that any executives, directors or employees violated any securities laws or regulations.”

Amaya said in a statement: “The release of the redacted documents presents nothing new to Amaya. Amaya has previously received the redacted affidavit and reviewed its limited contents and did not contest the court’s decision today [Wednesday].

“The AMF investigation has not resulted in any proceedings and no charges have been filed. The company is confident that at the end of the investigation the AMF will come to the same conclusion as Amaya has – that if there were violations of Canadian securities laws, they were not committed by the company, officers or directors.”