A hearing panel of the Ontario Regional Council of the Mutual Fund Dealers Association of Canada yesterday found mutual fund sales person Shawn Sandink guilty of misappropriating client funds.

The panel found that between January 1999 and August 2003, Sandink misappropriated $34,250 from one of his mutual fund clients.

The panel ordered a permanent prohibition on Sandink from engaging in any securities-related business in any capacity, fined him $35,000, nd ordered him to pay costs in the amount of $2,500.