Brett Paul Trevillian, former investment manager of Trading Life Services (previously known as AlphaThorn) and current director of Metal Alpha, has pleaded guilty to forging portfolio performance verification reports during his tenure at the firm.
Last year, following an Australian Securities and Investments Commission (ASIC) investigation, it was alleged that Trevillian created four forged portfolio performance verification reports between April and October 2019, which were then intended to be provided to potential investors.
He was arrested by officers from the NSW Police Force upon his arrival into Australia at Sydney Airport on 20 July 2023 on an arrest warrant obtained by ASIC.
The allegedly forged reports relate to two investment products offered by AlphaThorn, the Secured service product and the Enhanced service product, falsely verifying or claiming a history of investment returns by AlphaThorn.
On 7 May 2024, Trevillian 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 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.
Trevillian is set to appear before the Sydney District Court on 7 June 2024, when a date for a sentencing hearing will be set.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.
The regulator has previously taken action against another former director at AlphaThorn, banning Gabriel Yakob from providing financial services for a period of five years in December 2022.
