Brett Paul Trevillian, director at Metal Alpha, 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, which now operates under the name Trading Life Services.
The Australian Securities and Investments Commission (ASIC) confirmed on Monday that Trevillian was sentenced in the Sydney District Court last Friday, after pleading guilty to two counts of making a false document to obtain a financial advantage under s253 of the Crimes Act (NSW).
Namely, an investigation by the regulator found that between April and October 2019, Trevillian forged four portfolio performance verification reports related to two products offered by AlphaThorn.
According to ASIC, 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,” it said in a statement on Monday.
Moreover, the investigation found that AlphaThorn 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.
ASIC clarified that the sentence was stood over until 20 December 2024 to enable Trevillian’s suitability for an Intensive Correction Order to be assessed. His bail conditions continue on the existing terms.
Deputy chair Sarah Court said that the regulator welcomed the sentencing decision, which reflects its ongoing focus to “stamp out misconduct”.
“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,” Court said.
In July 2023, Trevillian was arrested by officers from the NSW Police Force upon his arrival into Australia at Sydney Airport on an arrest warrant obtained by ASIC.
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 of imprisonment.
In May 2024 he pleaded guilty to two offences of making a false document with the intention to obtain a financial advantage, one offence in respect to reports relating to the Secured service product, and one offence in respect of a report relating to the Enhanced service product.
The investigation additionally resulted in the banning of Trading Life Services Pty Ltd and former director Gabriel Jakob (formerly known as Gabriel Yakob) from providing financial services (22-358MR).
