Results 1 to 10 of 10
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Location
    Newton, MA
    Posts
    3,850
    Thanks
    345
    Thanked 1,632 Times in 990 Posts

    Default LeoVegas manager arrested for insider trading

    Swedish newspaper Aflonbladet reported on Friday that three people – one of which was a “top manager” at LeoVegas – were arrested on suspicion of insider trading in connection with the operator’s acquisition by MGM. The man was detained on probable cause on suspicion of serious insider crime between February 1 and April 29 this year.

    From the article:

    The case is basically about a person at the company having information that is not public and that affects the price when it is made public. Then you can take the opportunity to take some positions before the publication and then there are other people who have traded in this share, says Chamber prosecutor Pontus Hamilton about the suspicions.

    The takeover bid was announced on May 2. The stock trading that the suspected trio is connected to before the publication is suspected of having generated millions of profits, Hamilton states. The stock rose approximately 40 percent on the day of the takeover bid. If you then buy shares on the Friday before, the rise will also be that big.

    The top manager is the only one of those detained with a direct connection to Leovegas. He is defended by lawyer Conny Cedermark.He denies any wrongdoing and hopes that this misunderstanding will soon be cleared up, says Cedermark.
    The man's two teammates also deny wrongdoing. It is an ongoing investigation and we will see where it leads. We have no suspicions against anyone else at the company, says District Attorney Hamilton.

    Daniel Valiollahi is press manager at LeoVegas.

    It has come to our attention that an employee of the company has been served with suspicion of insider trading. It is about an employee and not a person on the board or management team. As a company, we set high standards for ourselves when it comes to regulatory compliance, and since June we have cooperated with the authorities in their investigation, he says.
    Read more here: https://www.aftonbladet.se/nyheter/k...t-insiderbrott

  2. #2
    mickyfu is offline Public Member
    Join Date
    February 2013
    Posts
    634
    Thanks
    93
    Thanked 437 Times in 261 Posts

    Default

    Shame nobody is ever arrested for blatant theft by Leovegas & Co.

  3. #3
    ocreditor's Avatar
    ocreditor is offline Private Member
    Join Date
    April 2009
    Location
    Israel
    Posts
    6,116
    Blog Entries
    1
    Thanks
    5,993
    Thanked 3,821 Times in 2,398 Posts

    Default

    What's going on with Leovegas and internal scandals, If I remember correctly a few years back, there was an affiliate manager that cause embezzlement of partners' funds...

  4. #4
    Cash Bonus's Avatar
    Cash Bonus is offline Private Member
    Join Date
    May 2014
    Posts
    4,477
    Thanks
    8,223
    Thanked 2,662 Times in 1,923 Posts

    Default

    Damn scandalous!

    It comes as no surprise. Another article dated June of this year about this wretched company:

    hxxps://www.casino.org/news/leovegas-facing-insider-trading-probe-stockholm-office-raided/

  5. #5
    Nicole Goodwin's Avatar
    Nicole Goodwin is offline Public Member
    Join Date
    October 2022
    Location
    Wellington
    Posts
    63
    Thanks
    1
    Thanked 11 Times in 7 Posts

    Default

    I think this happens much more often, unfortunately, just not everyone is arrested

  6. #6
    CasinosBroker's Avatar
    CasinosBroker is offline Public Member
    Join Date
    July 2021
    Location
    Romania
    Posts
    193
    Thanks
    37
    Thanked 46 Times in 41 Posts

    Default

    Quote Originally Posted by Nicole Goodwin View Post
    I think this happens much more often, unfortunately, just not everyone is arrested
    I agree with you Nicole.
    Looking to buy or sell iGaming sites?
    Get in touch today!
    www.CasinosBroker.com
    WhatsApp: +40-726-22-55-33

  7. #7
    simon is offline Brand New Member
    Join Date
    July 2022
    Location
    Bucharest
    Posts
    10
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default

    I also heard about that before 4-5 years ago, I remember. But since then only positive toughts from this company.

  8. #8
    Pokerface's Avatar
    Pokerface is offline Public Member
    Join Date
    August 2016
    Posts
    1,842
    Blog Entries
    1
    Thanks
    93
    Thanked 651 Times in 452 Posts

    Default

    Damn, bad. But agree, happens a lo more than we know ... just not caught ... yet.
    statsdrone.com

    Want to try the StatsDrone for free for 30 days? Would you like a demo? DM me!

  9. #9
    Oliver Cooper's Avatar
    Oliver Cooper is offline Public Member
    Join Date
    January 2022
    Location
    Sydney
    Posts
    113
    Thanks
    8
    Thanked 19 Times in 14 Posts

    Default

    Stories like this just make LeoVegas even more public. black PR is also PR

  10. #10
    edgarf76's Avatar
    edgarf76 is offline Private Member
    Join Date
    March 2013
    Location
    Montreal
    Posts
    1,879
    Thanks
    656
    Thanked 506 Times in 359 Posts

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •