Did a prominent member of the Hells Angels profit from insider information ahead of Amaya Gaming’s blockbuster purchase of PokerStars last year?

According to a report in Le Press, a French language Quebec newspaper, the Royal Canadian Mounted Police (RCMP) are looking into whether or not Canadian Hells Angels leader, Salvatore Cazetta had advance warning of the impending deal.

Earlier this week, the paper reported that Cazetta purchased $10,000 worth of Amaya stock just ahead of the Amaya’s PokerStars purchase. That investment would have, roughly, doubled once the deal closed.

Cazetta is currently awaiting trial in Quebec on charges of profiting from cigarette smuggling.

In their report, Le Press quoted unnamed sources who claimed that the RCMP had already opened an investigation into the matter. The RCMP, however, told the Financial Post that no such investigation is currently underway.

For their part, Amaya Gaming denies any wrongdoing in the matter. In a statement to the press, Amaya’shead of corporate communications, shot down any connection to Cazetta or the Hells Angels saying:

We have no knowledge or connection to the individual or the organization mentioned in the La Presse article. Obviously, a publicly listed company does not have any control over who buys and sells its shares in the open market, nor any way to know who actually owns its shares below certain ownership thresholds

Whatever Cazetta did, or did not, do with regards to Amaya Gaming stock, this incident is just one more PR headache the Canadian company just doesn’t need.


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