OMAHA, Neb. (AP) — A financial industry watchdog organization has fined former Nebraska quarterback Jerry Tagge for breaking rules about borrowing money from clients.
The Omaha World-Herald reports that the Financial Industry Regulatory Authority fined Tagge $2,500 and suspended him for two months. He went on suspension July 19.
Tagge is executive vice president of Tagge Rutherford Financial Group, which has about $800 million in assets under management. He led the University of Nebraska to consecutive college football national championships in 1970 and 1971.
His attorney, John Shaw, issued a statement that said in part: "We are pleased to reach a settlement which places this matter behind us permanently."
The authority says Tagge borrowed $125,000 from a customer in 2009, violating authority rules and those of his financial firm. The money's been repaid.
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