Stoltmann Law Offices is investigating John Schooler and his firm, First Financial Equity Corporation. According to Schooler’s Financial Industry Regulatory Authority (FINRA) BrokerCheck report, he allegedly made unsuitable investment recommendations, was negligent, made misrepresentations, breached fiduciary duty, committed fraud and violated blue sky statutes in many states. He also allegedly made private placement transactions in direct participation programs and limited partnerships with included investments in oil and gas ventures and non-traded real estate investment trusts (REITs). Private placement transactions are commonly referred to as “selling away” and is when a broker sells a security that is not sold or offered by his member firm. This is to garner large commissions for the broker and is against securities rules and regulations. Brokers have a duty to take into account the client’s age, net worth, portfolio, and investment objectives when making recommendations and many oil and gas and REIT securities are risky and not suitable for all clients.
John Schooler was registered with Montano Securities Corporation in Orange, California from July 1993 until January 1994, WFP Securities in San Diego, California from January 1994 until July 2011, JRL Capital Corp in Newport Beach, California from June 2011 until July 2011 and WFP Securities in San Diego from July 2011 until July 2011. He is currently registered with First Financial Equity Corp in Scottsdale, Arizona and has been since July 2011. He has 25 customer disputes against him, one of which is currently pending.
If you suffered losses with John Schooler, you may be able to recover your investment losses by calling our Chicago-based securities law firm at 312-332-4200 and speaking to an attorney. We may be able to help you bring a claim against his firm, First Financial, for not reasonably supervising him. They may be liable for your losses. The call is free with no obligation. Please call as soon as possible because time is of the essence.
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