
Todd Schoenberger, a former financial advisor with USAA Investment Management Company in San Antonio, Texas, was recently barred from the securities industry for allegedly soliciting clients to invest in promissory notes issued by LandColt Capital, an unregistered advisory firm. He allegedly promised that the notes would be repaid by a private fund launched by him at a later time. He used $67,000 of the $130,000 he secured for personal use. Before being registered with USAA, Schoenberger was registered with Merrill Lynch, Legg Mason Wood Walker, Rydex Distributors, Annuitynet Insurance Agency and Investors Security Company. He has two customer disputes against him. The Securities and Exchange Commission (SEC) permanently barred him from acting as a broker or investment adviser, or associating with firms that sell securities or provide investment advice to the public because of the charges against him.
Michael Thomas, another financial advisor was charged with misrepresenting his achievements to investors and clients. He told the clients he was named as a “Top 25 Rising Business Star” by Fortune magazine, when the award does not actually exist. If you would like to sue Todd Schoenberger or Michael Thomas, or USAA Investment Management Company, you may do so by calling us at 312-332-4200. We are securities attorneys who help investors recover financial losses.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.