Metal Alpha Pty Ltd director Brett Paul Trevillian has been sentenced to three years imprisonment for forging reports about the performance of his trading strategy ‘The Gold Method’, when he was the investment manager of AlphaThorn Pty Ltd.
Mr Trevillian was sentenced in the Sydney District Court on 8 November 2024, after pleading guilty to two counts of making a false document to obtain a financial advantage under s253 of the Crimes Act (NSW).
ASIC Deputy Chair Sarah Court said, ‘ASIC welcomes the sentencing decision which reflects our ongoing efforts to stamp out misconduct.
‘Mr Trevillian failed to fulfil his legal obligations, acted dishonestly, made false and misleading representations and breached the trust of those he was engaged to act for.’
An ASIC investigation found that between April and October 2019, Mr Trevillian forged four portfolio performance verification reports related to two products offered by investment business, AlphaThorn. These products were managed discretionary account investments offered to wholesale investors, being the Secured Service and the Enhanced Service.
AlphaThorn provided the portfolio performance verification reports to potential investors. The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns. They also falsely claimed that trading had been conducted through a particular broking firm and that the reports had been produced by an external firm of accountants who had verified actual trading, including forging the signature of an accountant.
The sentence was stood over until 20 December 2024 to enable Mr Trevillian’s suitability for an Intensive Correction Order to be assessed. His bail conditions continue on the existing terms.
The matter was prosecuted by the Office of the Director of Public Prosecutions (Cth) after an investigation and referral by ASIC.
Background
AlphaThorn now operates under the name Trading Life Services Pty Ltd.
ASIC cancelled the Australian Financial Services Licence of Metal Alpha, on 19 May 2022, after the firm confirmed it was no longer carrying on a financial services business and had no intention to resume trading.
Mr Trevillian was arrested by officers from the NSW Police Force on 20 July 2023 (23-201MR).
The maximum sentence for making a false document to obtain a financial advantage under section 253 of the Crimes Act 1900 (NSW) is 10 years' imprisonment.
This investigation also resulted in the banning of Trading Life Services Pty Ltd and former director Gabriel Yakob from providing financial services (22-358MR).