Stavro D’Amore sentenced to prison for embezzling client funds

Stavro D’Amore, a prominent Australian financial trader and former head of Berndale Securities, has been sentenced to three years and 10 months in prison, with a minimum of 23 months to be served. The sentencing follows D’Amore's guilty plea to three dishonesty charges in the Federal Court.

D’Amore was found to have embezzled approximately $681,497 of client funds to finance a luxury lifestyle and various personal interests. Court proceedings revealed that the stolen money was used for high-end purchases, including transfers to associates of jailed gangland boss Tony Mokbel for luxury apartments, and payments related to bodybuilding competitions.

Berndale Securities collapsed in 2018 following an investigation by corporate regulators, resulting in the loss of nearly $9 million in investor funds. In February 2025, liquidators issued a final dividend of 4.5 cents in the dollar to victims of the collapse.