Former Berndale Director Sentenced for Misuse of Company Funds

Former director of the Berndale group, Mr Daniel Kirby of Melbourne, Victoria, has been sentenced to two years and 11 months’ imprisonment for dishonest conduct and misuse of company funds. His sentencing follows serious breaches related to his roles at Berndale Capital Securities Pty Ltd, Berndale Capital Securities Management Pty Ltd, and Algoplus Pty Ltd.

So, on 10 July 2025, the Federal Court of Australia in Melbourne sentenced Mr Kirby, ordering his release after 12 months upon recognisance of $1,000, conditional on good behaviour for an additional three years.

Former Berndale Director Sentenced for Misuse of Company Funds

Mr Kirby pleaded guilty on 15 May 2025 to one count each of providing false or misleading information to an auditor, dishonest use of position as a director, and dishonest conduct relating to a financial service. The Australian Securities and Investments Commission (ASIC) conducted an extensive investigation, and the Office of the Director of Public Prosecutions (Cth) prosecuted the charges.

This marks the first ASIC matter to proceed under the Federal Court of Australia’s expanded corporate criminal jurisdiction.

In 2018, ASIC banned Mr Kirby’s co-accused, Mr D’Amore—also a former Berndale director—from providing financial services for six years. He is ready to attend a case management hearing on 24 July 2025, after having trial in September 2024.

Also, Berndale Capital Securities collapsed in 2019, and the Federal Court ordered its winding up alongside Berndale Capital Securities Management Pty Ltd and Algoplus Pty Ltd. Liquidators Rachel Burdett-Baker and Bruno Secatore of Cor Cordis identified over $8.9 million owed to former Berndale clients.

In 2023, authorities charged Kirby and D’Amore with misusing more than $1 million in company funds.

So, the sentencing highlights ASIC’s continuing enforcement focus on misconduct in the financial services sector and marks a significant outcome under the Federal Court’s broader jurisdiction.

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