Former van Eyk CEO faces sentencing decision in November

Mike Taylor

Managing Editor/Publisher, Financial Newswire

28 September 2022

The former chief executive of defunct research and ratings house, van Eyk Research, Mark Thomas, who in May pleaded guilty to charges of dishonestly using his position as a director should know his fate in mid-November.

Thomas, who appeared in the Sydney District Court last week, has been ordered to undertake a Sentencing Assessment Report, with the matter adjourned to 14 November.

The charges against Thomas were originated by the Australian Securities and Investment Commission (ASIC) and prosecuted by the Commonwealth Director of Public Prosecutions.

ASIC in May noted that the charges to which Thomas had pleaded guilty related to In events in February 2014, where it was alleged Thomas dishonestly used his position as director of Blueprint Investment Management Limited (Blueprint), a New Zealand-based subsidiary of van Eyk Research, to facilitate an investment of nearly $5 million by Blueprint in a separate fund, the Wholesale Enhanced Income Fund.  The funds were then loaned to another company, TAA Melbourne Pty Ltd to purchase an interest in van Eyk Research.

“These transactions prevented a third party from gaining control of van Eyk Research, of which Mr Thomas was the CEO, ensuring that Mr Thomas maintained control of the company’s affairs and strategy,” ASIC said.

“By doing this, Mr Thomas used his position as a director dishonestly with the intention of directly or indirectly gaining an advantage for himself.”