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Former Amaya CEO David Baazov sells 7 million shares

David Baazov, former president and chief executive officer of gaming company Amaya Inc.

Christinne Muschi/Reuters

David Baazov says he has sold seven million common shares in Amaya, the Montreal-based gaming company he founded and once led as CEO before he encountered legal troubles.

Baazov sold the stock on the S&P/TSX composite index for $19 per share, totalling $133-million.

The disposition leaves Baazov with roughly 17.6 million common shares, representing 12.1 per cent of the company's issued and outstanding common stock.

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Baazov pleaded not guilty last year to securities-related charges following an investigation into allegations of insider trading.

He had proposed to buy Amaya, but walked away from the bid in December.

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