Investment manager jailed for forging performance docs

Patrick Buncsi

12 November 2024

A former Sydney investment manager has been sentenced to three years imprisonment after he pleaded guilty to forging performance reports of his firm’s trading strategy, ‘The Gold Method’.

Metal Alpha director Brett Trevillian pleaded guilty in Sydney District Court last May to two counts of falsifying documents to obtain a financial advantage.

Corporate regulator ASIC, which referred the matter to the Office of the Director of Public Prosecutions (DPP), alleged the then investment manager forged four portfolio performance verification reports offered to prospective investors of the strategy.

The verification reports related to two managed discretionary accounts offered by investment business AlphaThorn (operating today as Trading Life Services), which targeted wholesale investors.

According to ASIC, the forgeries occurred in the six months between April and October 2019.

“The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns,” the corporate regulator found.

“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.”

Trevillian was arrested by NSW Police at Sydney Airport in July 2023 following a referral by ASIC to the DPP.

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.

ASIC also struck off Trading Life Services and former director Gabriel Yakob, banning each from providing financial services in Australia.

Following the Court’s sentencing, ASIC deputy chair Sarah Court called out Trevillian’s actions, stating that the former director “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.”

Under the Crimes Act 1900 (NSW), the maximum sentence for falsifying a document to obtain a financial advantage is 10 years’ imprisonment.