Former van Eyk Research CEO pleads guilty to charges
Mark Thomas, former chief executive of van Eyk Research, has pleaded guilty to charges of dishonestly using his director position.
Thomas, of Kanimbla, New South Wales, pleaded guilty in Downing Centre Local Court to using his position as director of Blueprint Investment Management to facilitate an investment of nearly $5 million by Blueprint into a separate Wholesale Enhanced Income fund in February 2014.
These funds were then loaned to another company, TAA Melbourne Pty, to purchase an interest in van Eyk Research in order to prevent a third party from gaining control of the company. Thomas was the firm’s CEO and the move ensured he would maintain control of the company’s affairs.
The Australian Securities and Investments Commission (ASIC) said this was Thomas using his position as a director dishonestly with the intention of directly or indirectly gaining an advantage for himself.
The charges had been brought against Thomas last May and had a maximum penalty of $340,000 or five years imprisonment or both.
The matter will be before the Downing Centre District Court for mention on 1 July, 2022, at which time a sentencing date was expected to be set. The matter was being prosecuted by the Commonwealth Director of Public Prosecutions following an investigation and referral from ASIC.
AUTHOR
Laura Dew
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