tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Measuring adviser wellbeing       TAKE PART IN THE SURVEY Dismiss
Last Article Uploaded: Tuesday, September 21st, 10:35PM

News

rss
News Bites

Former van Eyk boss faces four dishonesty charges

Former CEO of van Eyk Research charged with breaches of directors’ duties.

Saturday, May 22nd 2021, 6:48AM 1 Comment

The Australian Securities and Investments Commission (ASIC) has charged former chief executive of van Eyk Research, Mark Peter Thomas with four counts of dishonestly using his position as a director or officer of a company with the intention of gaining an advantage for himself.

According to the regulator, between 31 January 2014 and 20 February 2014, Thomas:

  • As an officer of van Eyk Research Pty Ltd (van Eyk Research) and director of a New Zealand-based subsidiary of van Eyk Research, Blueprint Investment Management Ltd (BIML), facilitated a nearly $5 million investment from BIML (BIML Investment); and
  • Used his positions to conceal from the trustee of the Blueprint CashPlus Fund and the Blueprint Australasian Income Fund (collectively the BIML Funds) reasonable detail of the BIML Investment and its purpose, knowing that the funds from the BIML Investment would be loaned to TAA Melbourne Pty Ltd (TAA) to purchase an interest in van Eyk Research to prevent a third party from obtaining a majority shareholding in van Eyk Research.
  • ASIC also alleged that between 21 February 2014 and 11 March 2014, Thomas used his position as:
  • An officer of van Eyk Research to facilitate and instruct another company to rebalance two funds (for which van Eyk Research was the investment manager) into a separate fund (the Rebalance Investment), concealing reasonable detail of the Rebalance Investment and its purpose, while knowing that the rebalance was to fund the acquisition of the loan to TAA and ultimately prevent a third party from obtaining a majority shareholding in van Eyk Research;
  • A director of a wholly-owned subsidiary of van Eyk Research, Three Pillars Portfolio Managers Pty Ltd (Three Pillars), to facilitate the acquisition of the loan made to TAA, concealing reasonable detail of the investment and its purpose and misrepresenting that there was no impediment or material conflict. ASIC alleged that, at this time, Thomas knew the purpose of the acquisition of the loan, which was directed to maintaining ongoing control of van Eyk Research.

The maximum penalty for each count of an offence of a director, other officer or employee of a corporation using their position dishonestly (section 184(2) of the Corporations Act) is $340,000 or imprisonment for five years, or both.

Tags: Van Eyk

« APN Property Group asks for approval for buy-out by DexusASA asks for industry input as it reviews financial advertising rules »

Special Offers

Comments from our readers

On 24 May 2021 at 8:38 am Pragmatic said:
Whilst this is an appropriate outcome, there are 2 other Directors who are yet to face charges. One of whom is a prominent Kiwi with a 'colorful' history across multiple jurisdictions...

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▲2.85 ▲3.25 3.55
ANZ 4.44 ▲3.20 ▲3.59 ▲4.00
ANZ Blueprint to Build 1.68 - - -
ANZ Special - ▲2.60 ▲2.99 ▲3.40
ASB Back My Build 1.79 - - -
ASB Bank 4.45 ▲2.85 ▲3.25 3.55
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▲2.85 ▲3.25 ▲3.55
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 ▲3.45 ▲3.85 ▲4.15
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.35 2.75 3.05
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 3.50 3.74 4.34
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 2.65 2.89 3.49
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 2.99 3.39 3.59
SBS Bank Special - 2.49 2.89 3.09
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.35 - -
The Co-operative Bank - Owner Occ 4.40 2.55 2.95 3.39
The Co-operative Bank - Standard 4.40 3.05 3.45 3.89
TSB Bank 5.34 3.35 ▲3.75 ▲4.05
TSB Special 4.54 2.55 ▲2.95 ▲3.25
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 ▲3.45 ▲3.85 4.09
Westpac - Offset 4.59 - - -
Westpac Special - ▲2.85 ▲3.25 3.49
Median 4.54 2.92 3.25 3.49

Last updated: 20 September 2021 8:55am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com