Former van Eyk CEO permanently banned by ASIC
Former van Eyk chief executive, Mark Peter Thomas, has been permanently banned for performing any function involved in running or controlling a financial services provider.
ASIC’s ban follow his conviction for dishonestly using his position as a director of Blueprint Investment Management and engaging in dishonest conduct. New Zealand-based Blueprint is a subsidiary of van Eyk.
He was sentenced last November in NSW District Court to one year and three months imprisonment to be served by way of an Intensive Correction Order, including 250 hours of community service for using his position as a director dishonestly with the intention of directly or indirectly obtaining an advantage for himself.
This followed him pleading guilty to charges of breaching director duties on 31 May 2022.
Between about 31 January, 2014 and 20 February, 2014, Thomas dishonestly used his position as director of New Zealand-based van Eyk Research subsidiary Blueprint Investment Management Limited (Blueprint) by recommending and facilitating Blueprint investing nearly $5 million 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, of which Thomas was also CEO.
These transactions prevented a third party from gaining control of van Eyk Research, ensuring that he was able to remain as CEO and chief investment officer of van Eyk Research .
ASIC may then permanently ban a person from the financial services and credit industry if they are convicted of an offence of serious fraud or dishonest conduct.
The banning will be recorded on ASIC's Banned and Disqualified Register and he has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
AUTHOR
Laura Dew
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With guy's like that around, and there is probably more. ASIC spent it's time chasing CONFLICTED COMMISSION of mine going back to 1989/90.
My advice to anyone new to the business IS GET OUT NOW, it is riddled with know nothings on the govt side
IE BILL SHORTEN went to the govt solicitor in the labour govt, before the CAPTAIN won for the libs.
This b. govt ignored the govt solicitors opinion and went forward with their plan to reform the industry... did well didn't they down a third on all advisors and fees have doubled.Plus advisors have to pay large fees to keep ASIC going.-No one under a 100k per year can afford an advisor THESE DAYS JG