MONTREAL (JTA) — Quebec securities officials are investigating possible connections between a Montreal Chabad group and an alleged money laundering scam involving the ex-CEO of Amaya Inc., the world’s largest publicly traded online gambling company.
David Baazov, ,35, faces charges filed in March that he tried to influence the Amaya stock price by using privileged information.
Securities officials found $66,000 in cash during a raid of the Chabad affiliate, called Centre Chabad, in June, The Canadian Jewish News reported Tuesday.
Securities officials say the Chabad center — ostensibly a charitable group — was used to launder money by individuals who donated money to it and who are now also being targeted in the Amaya investigation.
The raid was undertaken to view the Chabad center’s banking records and communication between its employees and those connected to the Amaya investigation or Baazov, according to the Jewish News.
Baazov resigned as Amaya CEO in August, but denies the charges and is contesting the legality of the raid.