Thomas Paul Schober—Recommendation of Unsuitable Annuity Exchanges

Ponzi scheme attorneysThomas 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 Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf 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 Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1203 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.