Sydney financial planner Gavin Fineff jailed after using client money to gamble on betting apps

Gavin Fineff had close relationships with clients who trusted him. The gambling addict took them for a ride as he conned them and gambled more than $3.5 million of their money away.

A financial planner who lost more than $3.5 million dollars worth of his clients’ money to a gambling addiction has been jailed for nine years, with a judge labelling his crimes a “severe breach of trust”.

Gavin Fineff was on Friday sentenced to nine years jail with five years and four months non-parole, after he approached 13 clients he’d formed close personal relationships with, offered them entry into a good investment deal, then used the funds to gamble on betting apps.

From the outside, he appeared to have it all together, a loving family, a healthy salary of $160,000 a year at Sentinel Wealth, and a portfolio of 120 clients at the wealth management firm.

But in reality, he was a gambling addict, and ultimately blew millions of dollars worth of his clients’ money to gambling – with no way to pay them back.

Judge Christopher O’Brien said despite Fineff’s “genuine remorse” and attempts to hold gambling agencies to account – he took advantage of his close, personal relationships with vulnerable people.

Former financial adviser Gavin Fineff. Picture: Tim Hunter.

“His victims let him into their lives and he seriously abused their generosity, hospitality and trust,” he said.

“These victims were of an age and generation where the offender would be considered an impressive young professional they could rely on.

“They had all worked hard throughout their lives to adequately provide for retirement and their family.

“The level of trust bestowed on the offender was high, as well as his breach of that trust.”

He pleaded guilty to 12 counts of dishonestly obtaining financial advantage by deception, and quickly became a “crusader” for gambling reform, working with politicians to make betting companies liable if a gambler uses stolen money to place a bet.

Fineff told the court he had been preyed upon by the betting companies, who had lent him up to $50,000 at a time in gambling credit, which Fineff likened to “a drug dealer giving out free heroin”.

Fineff will spend at least five years and four months in prison. Picture: Tim Hunter.

“My amends and intention for amends are largely societal (focusing) on gambling addiction education,” Fineff previously told the court.

“My objective has never shifted from trying to recover money from the gambling companies.”

Judge O’Brien said while his advocacy work against the betting industry was indicative of his remorse, it would provide “little solace” to the people he had conned.

Judge O’Brien agreed that Fineff was a victim of his own addiction and that in his view, the gambling industry should be subject to review.

“This conduct of providing incentives to VIP customers is typical of the approach taken by gambling companies and in my opinion, it warrants review by both the industry itself and those charged with the responsibility of regulating it,” he said.

Fineff was taken into custody late last year, and will be eligible for release in 2028.