Canada’s biggest-ever insider trading investigation was blown open by the suspicious actions of a middle-class Montreal clothing industry executive who leveraged the equity in his home to make big stock bets, Quebec’s securities watchdog says.
The executive is Earl Levett, the chief financial officer of Montreal apparel firm Point Zero. He is characterized by the regulator as a “small fish” in the investigation into Amaya Inc.’s $4.9-billion (U.S.) acquisition of PokerStars’ parent Oldford Group Ltd. in 2014. In other words, someone who received rather than gave privileged information.
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