PokerStars Player Under Investigation For Insider Trading
Insider trade allegations have been raised against a Morgan Stanley Director and Talal ‘raidalot’ Shakerchi, winner of the 2016 PokerStars Spring Championship of Online Poker.
A preliminary hearing on the case has revealed disagreements within France’s financial market regulator, the Autorité des Marchés Financiers (AMF).
The case, accuses Daniel Lewis of Morgan Stanley and founder of Meditor Capital Management Ltd., of sharing sensitive information back in 2012 with Talal Shakerchi, the founder of Meditor Capital Management Ltd. The two spoke over the phone about a French satellite company, Eutelsat Communications SA. Days after their conversation, Shakerchi placed an order to short Eutelsat shares.
However, AMF’s findings were quickly criticized by other AMF officials who believed Lewis’s conduct to be prudent and legal.
“Lewis simply confirmed information Talal Shakerchi already knew” Lazard Kodaira of AMF said. No additional information was given during the call and price or date of sale were kept confidential.
Shakerchi is an avid poker player and has had his fair share of success online. “Raidalot”, as he is known in the poker community won $1.5 million last year at a PokerStars tournament.