Neemit Shah, Formerly of Northwestern Mutual, Suspended and Fined Over Alleged Unapproved, Private Securities Transactions

Shah is accused of engaging in undisclosed and unapproved private securities transactions in the amount of $408,000.00

The Sonn Law Group is investigating allegations that Neemit Shah engaged in unapproved, private securities transactions. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Neemit Shah (CRD#:4812480) was registered as a broker with Northwestern Mutual from 2019 until 2020. Previously, Shah was registered as a broker with MML Investors Services from 2016 until 2018.

Shah has one disclosure on his BrokerCheck report.

October 2020 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Shah consented to the sanctions and to the entry of findings that he engaged in undisclosed and unapproved private securities transactions in the total amount of $408,000. The findings stated that Shah solicited investors to purchase securities in a company. The company represented itself as a structured cash flow investment, claiming to purchase pensions at a discount from pensioners and then selling a portion of those pensions as a pension stream to investors. Shah received a total of $8,160 in commissions in connection with the transactions. Shah’s failure is aggravated by the fact that he made a false attestation to his member firm that he did not participate in private securities transactions. The findings also stated that the company ceased business, owing nearly $300 million in unpaid investor payments. In an indictment, the United States charged the company and its owner with conspiracy to engage in mail and wire fraud related to the company’s operations.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $5,000.00
• Sanctions: Suspension
• Registration Capacities Affected: All Capacities
• Duration: Six months
• Start Date: 10/19/2020
• End Date: 4/18/2021

Contact Us Today

The Sonn Law Group is currently investigating allegations that Neemit Shah engaged in unapproved, private securities transactions. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.