The Australian Securities & Investments Commission said former Berndale Capital Securities Pty Ltd director Stavro D’Amore has pleaded guilty in the Federal Court of Australia to multiple dishonesty offences, including illegally transferring AUD 681,496.98 in company funds between 2017 and 2018. He knew the funds were primarily derived from retail client deposits, and former Berndale clients are owed more than AUD 8.9 million. The three rolled-up charges combine dishonest use of position as a director, dishonest conduct in the course of carrying on a financial services business, and authorising a false and misleading statement in a document submitted to ASIC. D’Amore had previously pleaded not guilty after committal proceedings in September 2024. ASIC had already banned him from providing financial services for six years and cancelled Berndale’s Australian financial services licence in November 2018. The matter is being prosecuted by the Office of the Director of Public Prosecutions following an ASIC referral, with a sentence hearing listed for 2 July 2026.
Australian Securities & Investments Commission 2026-05-01
Australian Securities & Investments Commission announces guilty plea by former Berndale director over dishonest transfer of AUD 681,496.98 in company funds
The Australian Securities & Investments Commission reported that former Berndale Capital Securities director Stavro D’Amore has pleaded guilty in the Federal Court of Australia to three rolled-up dishonesty charges involving the illegal transfer of AUD 681,496.98 in company funds, mainly from retail client deposits, between 2017 and 2018. Former Berndale clients are owed more than AUD 8.9 million, and ASIC previously banned D’Amore from providing financial services for six years and cancelled Berndale’s Australian financial services licence in November 2018.