The Australian Securities and Investments Commission reported that the Federal Court sentenced former Berndale Capital Securities director Stavro D’Amore to a total effective term of three years and 10 months for dishonesty offences committed between 2017 and 2018. D’Amore, who was taken into immediate custody, will serve 23 months in prison. D’Amore improperly transferred AUD 681,496.98 in company funds that he knew were primarily derived from retail client deposits. He also authorised false and misleading statements to ASIC about overseas accounts purportedly holding Berndale funds, which either did not exist or were grossly inaccurate. Former clients are owed more than AUD 8.9 million following the retail over-the-counter derivatives provider’s collapse in December 2018. The prosecution followed an ASIC investigation and referral to the Commonwealth Director of Public Prosecutions.
Australian Securities & Investments Commission2026-08-06
Australian Securities and Investments Commission reports former Berndale director’s three-year and 10-month sentence, with 23 months in prison
The Federal Court sentenced former Berndale Capital Securities director Stavro D’Amore to three years and 10 months for dishonesty offences, with 23 months to be served in prison. The conduct included improperly transferring AUD 681,496.98 in funds primarily derived from retail client deposits and authorising false statements to ASIC about overseas accounts.