03/23/2016 08:46 EDT | Updated 03/24/2017 01:12 EDT

NewsAlert:CEO of online gaming company Amaya faces charges of market manipulation

MONTREAL — The CEO of Montreal online gaming company Amaya says he faces charges of market manipulation.

David Baazov says the allegations are false.

Baazov's statement came as from Quebec's stock market watchdog announced it has executed search warrants and obtained court orders to stop the activities of 13 people who traded in different securities while in possession of privileged information.

More Coming.

The Canadian Press