Amaya Former CEO in More Hot Water: Faces Fraud Charges

Written by:
Guest
Published on:
Dec/06/2017

Former Amaya CEO David Baazov is reportedly now facing fraud charges in Kenya.

Allegations arose in recent days that Baazov is being sued for embezzlement in connection with a Kenyan lottery which didn’t receive the $707,000 which it was promised.

Baazov and two other men are also accused of siphoning off Sh73 million ($707,000) of funds intended for a charity.

The lawsuit was brought forward by Lion’s Heart Self Help Group as well as one of Amaya’s own directors, Kennedy Odhiambo Nyagudi.

“NIC Bank received the funds from the lotteries through deposits, kept the funds safely in their custody and thereafter aided Amaya to disappear from the country by transferring the funds out of the country when their fraudulent conning scheme was discovered - having defrauded unsuspecting Kenyans of hundreds of millions of shillings,” Mr Nyagudi claims.

Amidst these reports, Baazov is still being investigated for his alleged role in an insider trading scheme related to PokerStars, which Amaya purchased while he was at the helm.

Prosecutors claim the former Amaya CEO traded Amaya Stock prior to the acquisition of PokerStars.

From CardChat.com:

According to the latest court filings, prosecutors contend that Baazov attempted to manipulate Amaya’s stock price prior to the poker site acquisition that would practically overnight take Amaya from bit player to one of the largest publicly traded online gaming companies in the world.

- Nagesh Rath, Gambling911.com

Poker News

Million Dollar Sundays Encore Poker Tournaments and Online Super Series XIV Announced

Million Dollar Sundays Encore Poker Tournaments and Online Super Series XIV Announced

The Sunday tournaments have proven especially popular with massive payouts

Matusow Wish for the New Year: 'Have @Potus Quit Tweeting Like A 3 yr Old'

Matusow Wish for the New Year: 'Have @Potus Quit Tweeting Like A 3 yr Old'

Poker pro Mike "The Mouth" Matusow makes no secret of the fact that he is a big supporter of U.S. President Donald Trump.  But at the conclusion of Rosh Hashanah, he wished the following via Twitter

PokerStars Lawsuit Goes Before Judge

2016 World Series of Poker Main Event runner up Gordon Vayo’s lawsuit against the world’s largest poker site is set to go before a judge.  He filed the suit earlier this year.

It Does Not Appear That 888Poker is Behind DoS Attacks

It Does Not Appear That 888Poker is Behind DoS Attacks

PartyPoker, Americas Cardroom, even the world's largest online poker room, PokerStars, have not been immune to Denial of Service (DoS) attacks in recent weeks.  So it shouldn't come as any surprise that another bigwig in the world of Web poker, 888Poker, has also fallen victim.

Tencent Poker Platform Shut Down Amidst Crackdown

Chinese tech giant Tencent Holdings announced it is shutting down the firm's popular Texas Hold’Em poker video game in an effot to comply with intensifying government scrutiny hitting the country’s gaming industry.

Syndicate