Shawn Paul Sapp (Shawn Sapp) Formerly Licensed with Ameriprise Financial Services, Inc., Barred from Securities Industry – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Shawn Paul Sapp (Shawn Sapp) Formerly Licensed with Ameriprise Financial Services, Inc., Barred from Securities Industry
From 2007 until Shawn Sapp’s resignation in 2013, Shawn Sapp was licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Shawn Sapp resigned from Ameriprise Financial Services, Inc. on January 14, 2013. Ameriprise Financial Services, Inc. reported to FINRA that Shawn Sapp was permitted to resign following Firm finding of company policy violations related to borrowing money from a client and failure to timely update Form U4.
Subsequent to Shawn Sapp’s resignation from Ameriprise Financial Services, Inc., FINRA investigated Shawn Sapp and brought a disciplinary action against Shawn Sapp. Shawn Sapp was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on November 5, 2013. FINRA reports that Shawn Sapp caused a customer’s check, for $10,000 that was made out to Shawn Sapp’s member Firm and was supposed to be deposited into the customer’s brokerage account, to be deposited into Shawn Sapp’s personal account at the Firm. According to FINRA, the customer handed Shawn Sapp, who was the customer’s financial advisor, the check, and after the check was deposited into Shawn Sapp’s account, Shawn Sapp, over the next couple of weeks, withdrew the $10,000 using the funds for personal purposes. According to FINRA, Shawn Sapp repaid the customer by writing a check for $10,000.
FINRA reports that Shawn Sapp failed to appear and provide sworn testimony as requested by FINRA. According to FINRA, during the course of FINRA’s investigation into Shawn Sapp’s activities, FINRA sought testimony from Shawn Sapp concerning the misuse of customer funds, undisclosed business activities, and Shawn Sapp’s failure to timely amend Shawn Sapp’s Form U4 to reflect that Shawn Sapp was charged with a felony. According to FINRA, Shawn Sapp, through Shawn Sapp’s counsel, advised FINRA that Shawn Sapp would not appear for testimony in connection with this matter.
If you lost any money on investments with Shawn Sapp, you may be able to recover your losses from Ameriprise Financial Services, Inc. This is because Ameriprise Financial Services, Inc. had a duty to supervise Shawn Sapp.
If you lost money on investments with Shawn Sapp and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. concerning Shawn Sapp’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Shawn Sapp and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Keywords: FINRA, Ameriprise Financial Services, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, SecuritiesBack to Blogs