Jerry Allen Schutte- Private Securities transactions

Cleveland stockbroker fraud lawyerJerry Allen Schutte Allegedly Engaged in a $150,000 Private Securities Transaction by Entering into an Equity Participation Agreement with a Customer of Northwestern Mutual Investment Services, LLC without Providing Proper Prior Written Notice from His Firm

Jerry Allen Schutte allegedly participated in a $150,000 private securities transaction by entering into an equity participation agreement and a corresponding promissory note with a customer of Northwestern Mutual Investment Services, LLC without first providing proper prior written notice to the firm, according to the a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

Schutte’s alleged investment was a real estate project which he operated, the AWC notes.

Jerry Allen Schutte was registered at Northwestern Mutual Investment Services, LLC as a General Securities representative until June 2014, when he voluntarily resigned from the firm, the AWC reports.

Jerry Allen Schutte Suspended and Fined $5,000 for Allegedly Participating in a $150,000 Private Securities Transaction

Jerry Allen Schutte worked with a client, known only as EV, for over twenty years, and, on November 29, 2010, allegedly entered into an equity participation agreement and a corresponding promissory note with EV in which EV invested $150,000 in a real estate project ran by Schutte, according to the AWC.

Under the terms of the equity participation agreement and promissory note, Schutte was allegedly set to pay EV half of the profits from the sale of the developed lots as well as $13,000 per year in interest, the AWC notes.

As NASD Rule prohibit its registered representatives ‘from participating in any manner in any transaction that involves any form of securities without prior written notice….”, Schutte allegedly violated NASD Rules and hence has been suspended and fined $5,000 by FINRA, the AWC reports. One should also note that, according to the AWC, Jerry Allen Schutte neither admitted nor denied the FINRA findings.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of brokers engaging in undisclosed outside business activities.  They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of brokers conducting undisclosed outside business activities are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1141 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.