Stavro,
I'm still waiting for an answer . . . We now know of Prime Eagle Funds not quite starting up in Australia and Prime Eagle Funds in the UK . . .
I have received detailed documentation from Stavro, who has asked me to keep them private.
As a licensed fiduciary, I can do nothing else.
What I can do is characterize what is contained in them and provide some perspective.
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I have confirmed that Mr. D'Amore holds a valid Diploma from an ASIC Registered and properly accredited financial training company in Australia.
He completed training as a
Financial Planner under Australian Law necessary for employment with a registered firm, in 2007.
Unlike US law, it appears it is the firms alone that must be registered, not the individuals working for them.
The functionaries only need to meet the required educational level for their jobs, and be reported as working for the registered firm, through the firms' licensing procedures.
At my request, the educational institution that issued the diploma has confirmed its validity, conferring "PS 146" completion.
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This certification obligates the recipient to act as a fiduciary for his clients, much as for a Registered Representative, an Associated Person, or a RIAA in the US.
It specifically licenses him as qualified to provide individual investment advice; but, requires him to comply with the law, and all applicable regulations.
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In addition, I can confirm that Stavro is now associated with a privately held Limited Company, acting as a "Responsible Manager"; and such appointment has been properly filed by the company who now employs him, with ASIC. In this new position he is responsible for Compliance at the firm, as well as for stategic planning, trade recommendations, and trade execution.
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Furthermore, a certain Form: B1-Proof, which is a detailed CV or Resume specific to a financial advisor, was prepared and submitted to ASIC as a part of his appointment to his current position.
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This document details the involvement Stavro claims with former employers, as part of the documentation required by the new firm to justify his appointment.
It exquisitely details the deep level of involvment he had with Prime Eagle Funds, and the heavy responsibilities he committed to perform there.
These responsibilities included strategic planning, trade recommendations, compliance, communications with clients, and overall fiduciary responsibility.
There is much therein contained that (by his own hand) places him at the core of operations, in exchange for compensation during 2012.
Beyond this I cannot go.
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All this would be funny, if it were not so sad.
Anyone seeking recompense for his past actions should be able to obtain these documents, though somewhat hidden by intention of the parties involved, they are basically open information and can be found.
In toto, they demonstrate Stavro had the necessary education to know what he was doing, an understanding of compliance requirements, total fiduciary responsibility, and was licensed to engage in these activities for a profit; then did so.
In the US we call this having the Means, the Motive, and the Opportunity, to commit murder.
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I have advised Stavro to remain private for a very long time, and not post any financial recommendations anywhere.
Perhaps Stavro will one day come to admit to himself his own culpability in this affair.
For now, he has certainly openly admitted and referenced these very same activities as "credentials" to actually justify to the ASIC, his fitness for his new employment.
This act of creating and providing this B1 to his new employer alone; and whom by necessity has filed this form with ASIC recently; places Stavro squarely in legal jeopardy.
I have replied to the educational institution advising them of this controversy and asked them to review the facts independently.
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If Stavro is to ever rebuild his reputation he must demonstrate humility, contrition, and a published forward live real money account track record for several years without deletions; before again daring to try to attract public money.
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If I had performed in such a manner in the US, I would have lost my license, been fined, sued, stripped of my assets, and likely jailed.
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I will be monitoring Stavro. If I learn more, or see a flagrant resurgence of activity, I will again post what I can.
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Best regards to all the walking wounded, and my condolences to the families of the dead.
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Anthony Ingrassia, CTA
NFA ID#: 0278164
