Brett Paul Trevillian, former investment manager at AlphaThorn and director of Metal Alpha, was sentenced to three years in prison by the Sydney District Court on Nov. 8, after admitting to forging investor reports, ASIC reported.
Trevillian pled guilty to two counts of document falsification under section 253 of the Crimes Act (NSW) to gain financial advantage.
An ASIC investigation revealed that between April and October 2019, Trevillian created four false portfolio performance reports for AlphaThorn’s managed discretionary accounts, targeting wholesale investors.
The reports falsely claimed successful returns and verified trading through a specific brokerage firm, including a fabricated signature from an external accountant to mislead investors.
ASIC Deputy Chair Sarah Court said the corporate watchdog “welcomes the sentencing decision which reflects our ongoing efforts to stamp out misconduct.”
“Mr Trevillian failed to fulfill his legal obligations, acted dishonestly, made false and misleading representations, and breached the trust of those he was engaged to act for,” Court said.
Although sentenced to prison, Trevillian’s suitability for an intensive correction order (ICO) will be assessed, with sentencing set to reconvene on Dec. 20. His current bail conditions remain in place.
This case led to further regulatory actions, including the cancellation of Metal Alpha’s Australian Financial Services Licence in May 2022 and a financial services ban on Trading Life Services (formerly AlphaThorn) and its former director.
Prior to this, ASIC reported that its case against Paul Ryan, a director of Dixon Advisory & Superannuation Services, for alleged breaches of his duties as a director, was dismissed.
ASIC also reported that the Federal Court appointed Helen Newman and Andrew Fielding of BDO as receivers to oversee ALAMMC Developments and 12 associated corporate entities.
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