On May 5th, 2021, the securities division of the Arizona Corporation Commission issued an order against Jerry L. Gutman. Gutman was a broker with United Planners’ Financial Services of America. Gutman sold unregistered securities in the form of membership interests in at least six different LLCs to thirty-one clients of his firm and seven non-clients without disclosing the sales to his firm. The sales totaled over $7,000,000.
For instance, Guttman sold membership interests in Serenity Cemeteries VI, LLC to sixteen investors in exchange for $2,687,500, of which $1,678,374 has been repaid. None of the investments were registered with the ACC and none of them were recorded in United’s records.
Guttman sold membership interests in the following companies: Serenity Cemeteries II, LLC; Serenity Cemeteries IV, LLC; Serenity Cemeteries VI, LLC; Serenity VII, LLC; and Champion Entertainment Group, LLC.
Guttman was ordered to pay restitution to the investors and penalties to the State of Arizona.
One must always remain diligent in regard to one’s investments. If you wish to discuss any securities related question, please contact David A. Weintraub, P.A., 7805 SW 6th Court, Plantation, FL 33324. By phone: 954.693.7577 or 800.718.1422.