Thomas Paul Schober—Recommendation of Unsuitable Annuity Exchanges
Thomas Paul Schober Allegedly Recommended Unsuitable Annuity Exchanges in Accounts for Two Senior Customers
Thomas Paul Schober, who from 2007 through 2015 was registered through SII Investment Inc., allegedly recommended unsuitable annuity exchanges in accounts for two senior customers, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Thomas Paul Schober also allegedly concealed said unsuitable exchanges by providing false information concerning the source of funds on the annuity transaction documents used to make the exchanges, according to said AWC.
Thomas Paul Schober Barred by FINRA; Schober’s Alleged Victims Were Conservative Investors with Limited Financial Means, One Suffers from Dementia
The victims of Schober’s unsuitable recommendations are two investors, known only as LP and JM, ages 84 and 83, respectively, who held separate brokerage accounts with Schober, and whom were conservative investors with limited financial means who relied on the income from their investments, according to the aforementioned AWC.
Schober allegedly attempted to conceal said unsuitable annuity exchanges by providing false information concerning the source of funds and hence, violated FINRA Rules and therefore has been barred by FINRA, the AWC reports.
One should also note that, according to the AWC, Paul Schober neither admitted nor denied the FINRA findings.
The Peiffer Wolf Carr & Kane Securities Lawyers Often Assist Investors
The Peiffer Wolf Carr & Kane securities lawyers assist investors who lose money as a result of unsuitable annuity exchange recommendations. 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 unsuitable annuity exchange recommendations are encouraged to contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.