NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Salvatore Demeo Jr.
2009018139301

Demeo converted funds from a customer’s account by withdrawing $9,417.11 from the customer’s bank account without the customer’s knowledge or authorization, deposited the funds into a bank account for his company and used them for his personal benefit. Demeo failed to appear for FINRA on-therecord testimony.

Salvatore Demeo Jr.: Barred

Tags: Conversion  Bank