FLORIDA OFFICE OF FINANCIAL REGULATION

PERSONAL USE OF CLIENTS FUNDS,AND FAILURE TO DISCLOSE AND AMEND THE FORM U-4.

Order

Bar (Temporary/Time Limited)

ALL CAPACITIES

THREE (3) YEARS

11/22/2013

11/22/2016

Civil and Administrative Penalty(ies)/Fine(s)

$25,000.00

Denial

FINRA

FINRA RULES 2010, 2150(A), 8210: SAPP CAUSED A CUSTOMER'S CHECK, FOR $10,000 THAT WAS MADE OUT TO HIS MEMBER FIRM AND WAS SUPPOSED TO BE DEPOSITED INTO THE CUSTOMER'S BROKERAGE ACCOUNT, TO BE DEPOSITED INTO HIS PERSONAL ACCOUNT AT THE FIRM. THE CUSTOMER HANDED SAPP, WHO WAS THE CUSTOMER'S FINANCIAL ADVISOR, THE CHECK, AND AFTER THE CHECK WAS DEPOSITED INTO SAPP'S ACCOUNT, HE, OVER THE NEXT COUPLE OF WEEKS, WITHDREW THE $10,000, USING THE FUNDS FOR PERSONAL PURPOSES. SAPP REPAID THE CUSTOMER BY WRITING THE CUSTOMER A CHECK FOR $10,000. SAPP FAILED TO APPEAR AND PROVIDE SWORN TESTIMONY AS REQUESTED BY FINRA. DURING THE COURSE OF FINRA'S INVESTIGATION INTO SAPP'S ACTIVITIES, FINRA SOUGHT TESTIMONY FROM SAPP CONCERNING THE MISUSE OF CUSTOMER FUNDS, UNDISCLOSED OUTSIDE BUSINESS ACTIVITIES, AND HIS FAILURE TO TIMELY AMEND HIS FORM U4 TO REFLECT THAT HE WAS CHARGED WITH A FELONY. SAPP, THROUGH HIS COUNSEL, ADVISED FINRA THAT HE WOULD NOT APPEAR FOR TESTIMONY IN CONNECTION WITH THIS MATTER.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

11/5/2013

WITHOUT ADMITTING OR DENYING THE FINDINGS, SAPP CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE, HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

FELONY BATTERY

Reduced

REDUCED TO MISDEMEANOR SIMPLE BATTERY

MISDEMEANOR

WITH COMPLETION OF PROBATION & OTHER REQUIREMENTS NEW JUDGEMENT FILED STATING "ADJUDICATION OF GUI

I WAS INITIALLY CHARGED FOR FELONY BATTERY FOR BAR FIGHT I WAS INVOLVED IN ON FEBRUARY 9, 2009. THE CHARGES WERE LATER AMENDED AND REDUCED TO A MISDEMEANOR SIMPLE BATTERY. ALTHOUGH I WAS ACTING IN SELF DEFENSE, MY ATTORNEY ADVISED ME THAT IF I WERE TO TAKE THE CHARGES TO COURT, THAT IT WOULD ONLY BE HIS WORD AGAINST MINE WITH AN UNKNOWN OUTCOME, BUT BY TAKING A PLEA BARGAIN AND UPON SUCCESSFULLY COMPLETING PROBATION, AN ANGER MANAGEMENT CLASS AND COMMUNITY SERVICE HOURS THEN AMENDED JUDGMENT WOULD BE FILED STATING "ADJUDICATION OF GUILT BE WITHHELD" THUS BEING FILED AND COMPLETED ON FEBRUARY 1, 2011.