More Allegations Filed In Amaya Insider Trading Case (Update)

By Brian Cullingworth, Last updated Apr 14, 2017

Ontario Securities Commission accuses former Aston Hill Financial Inc executives of securities law violations

The Amaya – Baazov insider trading allegations surrounding the Montreal gambling group’s $4.9 billion acquisition of Pokerstars former parent the Rational Group in 2014 appeared again in the Canadian news columns Wednesday when the Reuters news agency reported that the Ontario Securities Commission has filed a statement of allegations accusing former Aston Hill Financial Inc executives of securities law violations associated with leaked information on the takeover deal.

The filing alleges that former Aston Hill president Bill Cheng “became aware of undisclosed material facts” and passed the information on to the company’s sales manager John Rothstein. The filing further claims that the company’s CEO at the time, Eric Tremblay, along with a CIBC investment adviser named Frank Soave took part in inside trading and made misleading statements or omitted material facts when subsequently examined under oath by the Ontario regulatory staff.

A court hearing has been scheduled for May 4 this year.

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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