Hamiltonian tourist complex walked free from court yesterday.

The Boston businessman received a two-year jail term, suspended for three years.

He was also fined $60,000 by the Massachusetts court.

The attorney and real estate developer could have been imprisoned 15 years, or fined as much as $75,000.

Massachusetts Assistant Attorney General Mr. Jeremy Silverfine, who prosecuted the case, had been pressing for a prison term of up to eight years.

"I was a little disappointed,'' he said.

Suffolk County Superior Court was packed with Stavisky's friends and relatives when Judge Hiller Zobel meted out sentence.

Last month Stavisky was convicted of embezzling $150,000 from investors in the timeshare and condominium complex.

He had denied three charges of larceny.

A co-owner of Pembroke's Hamiltonian, Stavisky was given $50,000 each by three investors in October 1989.

He had told the investors he was developing 88 condominiums, the court heard.

"But, instead of holding the investors' money in an escrow account, as he had represented, Stavisky converted all the money to his personal use,'' Mr.

Silverfine explained later to The Royal Gazette .

Four days into the six-day non-jury trial Stavisky paid back the $150,000 after having funds wired from Bermuda.

Stavisky's defence had centred around two other Hamiltonian investors who said their money had been returned on request.

"I think he was trying to prove that he had no intentions of depriving any investors of funds,'' said Mr. Silverfine.

"In my opinion, this didn't really have much to do with whether he embezzled funds from the three investors involved in the case.'' Among investors in the Hamiltonian Hotel and Island Club are ex-Transport Minister the Hon. Ralph Marshall and Bermuda Broadcasting chairman Mr.

Fernance Perry.

Others include LP Gutteridge chairman Mr. J.J. (Jack) Gutteridge and Hamilton businessman Mr. Ray White and his son, Kim.

A year ago Stavisky was disbarred by the Massachusetts Board of Bar Overseers after being accused of misappropriating $450,000 given to him by clients.

Yesterday afternoon Stavisky appeared in court, dressed smartly in a suit and tie.

Judge Zobel told Stavisky he could not condone his activity.

But he took into account his good service over the years, and letters written on his behalf.

Judge Zobel fined Stavisky $20,000 on each larceny charge.

And he directed Stavisky inform the court within 15 days how he proposed to pay the money.

A 20 percent surfine was also slapped on Stavisky, bringing the amount he owes to $72,000.

The surfine covers court fees and administrative costs.

He also sentenced Stavisky to two years in the House of Correction, suspended for three years.

Mr. Silverfine said he would not be appealing sentence.

"Government has no right of appeal,'' he added.

Mr. Silverfine said Stavisky had apologised to the court for his behaviour.

"He seemed quiet and reflective. The court was crowded, but there was no noticeable reaction when the sentence was given.'' Stavisky, who faces being banned from Bermuda, could not be contacted for comment.

Harold Stavisky.