简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Australian Securities and Investments Commission (ASIC) says that Mark Peter Thomas, the former CEO of van Eyk Research, was given a 15-month jail sentence. He took use of his position to get a financial benefit for himself.
Thomas will be barred from running a business for five years.
He was sentenced to 250 hours of community service.
The Australian Securities and Investments Commission (ASIC) says that Mark Peter Thomas, the former CEO of van Eyk Research, was given a 15-month jail sentence. He took use of his position to get a financial benefit for himself.
For roughly a month in 2014, Thomas worked as CEO of van Eyk Research subsidiary Blueprint Investment Management Limited. The defendant gave the company advice and helped it decide to put about $5 million into the Wholesale Enhanced Income Fund on its own.
The funds were eventually leased to TAA Melbourne Pty Ltd, which used them to purchase stock in Van Eyk Research, where Thomas also served as an executive. According to the court, the defendant misused his status as CEO by doing this, preventing someone else from taking over Blueprint. The court says that he only did what he did to keep his jobs as Chief Investment Officer at van Eyk Research and as a general director at Blueprint.
ASIC said in a press release that the criminal will be locked up because of an Intensive Correction Order (ICO). It is a two-year jail sentence served in the community under strict supervision. Thomas was also required to do 250 hours of community service. Thomas will be barred from managing a corporation for five years after completing his sentence.
According to ASIC, the court considered mitigating circumstances since the most severe sentence for Thomas's bad conduct is $340,000, five years in jail, or both.
Thomas' case is one of many that the Australian market watchdog has reported on in recent months. The mastermind of the $180 million FX Ponzi scam pled guilty in an Australian court a week ago. Tony Iervasi, a former Courtenay House Director, is facing up to ten years in jail and an $810,000 fine.
ASIC has already barred Mark Bringans, a former Trade360 employee who served as a responsible manager, for eight years. The regulator determined that his obligations were not being carried out properly.
Stay tuned for more Forex Regulatory news.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
An individual trader has come forward with allegations of an unfavourable experience while using the services of the broker TradeEU.global.
A 49-year-old e-hailing driver in Malaysia fell victim to a fraudulent investment scheme, losing RM218,000 in a matter of weeks. The scheme, which falsely promised returns of 3 to 5 per cent within just three days, left the individual financially devastated.
SFC freezes $91M in client accounts at IBHK, SBI, Monmonkey, and Soochow over suspected hacking and market manipulation during unauthorized online trades.
The UK Financial Conduct Authority (FCA) has issued a public warning regarding a fraudulent entity impersonating Admiral Markets, a legitimate and authorised trading firm. The clone firm, operating under the name Admiral EU Brokers and the domain Admiraleubrokerz.com, has been falsely presenting itself as an FCA-authorised business.