David A. Schauss - Axa advisors ripoff fraud on investments beat me lied to the courts SEC Mortage Fraud Elgin Illinois

This all sounds fishy to me. I have seen her reports on other sites and to me it just sounds like a bad divorce.  If fraund was truely committed then his securities license would have been revoked by the SEC. 

I'm a university instructor in need of a second job and with a college degree, only the insurance industry will take me. I contacted my local AXA advisors office and wow - so far they have done background checks and even pulled a credit report. I'm so impressed at how high their standards that I'm afraid not even I will be able to pass their checks.

Side note: I was scammed some years ago as a student by a college that billed me for 7 courses I never took. They pretended to empathize and told me they would take care of it. Indeed they never billed me, but then ruined my credit by reporting me for non payment - go figure! Since an attorney would charge me far more than the unfair tuition for classes I never took, and collection agencies don't care and offer settlements as long as they get paid - nobody cares and so I decided not to pay out of principle. Now I not only pay higher interest rates on credit cards and loans today, but I also risk losing the AXA job opportunity because they demand explanations just to appear fair before trashing me.

If I succeed and do get the job, I will have to not only have to work for no income, but front all expenses too until I start making some money (commission basis mostly). The number of licenses, permits and exams (series 7 for registered representative, series 63 and 65 to sell life and health insurance, state and federal registrations with NASD and the SEC not to mention my state and so on...) it's not funny! It could take as long as 6 months before I'm trained and even allowed to operate. The cost of all initial licensing fee's is nearly $1,000.00 of which I have to pay for and up front. If successful, they will reimburse a portion later on.

It is unimaginable for me to think that some jerk would go through all this crap, pass all his exams, finally stand to earn over $100,000.00 a year and then risk it all for check fraud. Something just isn't right. I recommend you follow the suggestions already posted by the person before me because if what you say is true - such an idiot can only be on drugs and therefore a danger to himself and others.

Reporting him and yanking his license is as easy as 1-2-3 and if calling his supervisor won't work (and it usually does in such cases), then call the state. By the way, AXA took over Fidelity Investments and so the check should have been made out to AXA Advisors unless he was selling an old Fidelity Insurance product AXA hasn't taken over yet - or is an independent financial consultant.

Best of luck!

I'm a university instructor in need of a second job and with a college degree, only the insurance industry will take me. I contacted my local AXA advisors office and wow - so far they have done background checks and even pulled a credit report. I'm so impressed at how high their standards that I'm afraid not even I will be able to pass their checks.

Side note: I was scammed some years ago as a student by a college that billed me for 7 courses I never took. They pretended to empathize and told me they would take care of it. Indeed they never billed me, but then ruined my credit by reporting me for non payment - go figure! Since an attorney would charge me far more than the unfair tuition for classes I never took, and collection agencies don't care and offer settlements as long as they get paid - nobody cares and so I decided not to pay out of principle. Now I not only pay higher interest rates on credit cards and loans today, but I also risk losing the AXA job opportunity because they demand explanations just to appear fair before trashing me.

If I succeed and do get the job, I will have to not only have to work for no income, but front all expenses too until I start making some money (commission basis mostly). The number of licenses, permits and exams (series 7 for registered representative, series 63 and 65 to sell life and health insurance, state and federal registrations with NASD and the SEC not to mention my state and so on...) it's not funny! It could take as long as 6 months before I'm trained and even allowed to operate. The cost of all initial licensing fee's is nearly $1,000.00 of which I have to pay for and up front. If successful, they will reimburse a portion later on.

It is unimaginable for me to think that some jerk would go through all this crap, pass all his exams, finally stand to earn over $100,000.00 a year and then risk it all for check fraud. Something just isn't right. I recommend you follow the suggestions already posted by the person before me because if what you say is true - such an idiot can only be on drugs and therefore a danger to himself and others.

Reporting him and yanking his license is as easy as 1-2-3 and if calling his supervisor won't work (and it usually does in such cases), then call the state. By the way, AXA took over Fidelity Investments and so the check should have been made out to AXA Advisors unless he was selling an old Fidelity Insurance product AXA hasn't taken over yet - or is an independent financial consultant.

Best of luck!

I'm a university instructor in need of a second job and with a college degree, only the insurance industry will take me. I contacted my local AXA advisors office and wow - so far they have done background checks and even pulled a credit report. I'm so impressed at how high their standards that I'm afraid not even I will be able to pass their checks.

Side note: I was scammed some years ago as a student by a college that billed me for 7 courses I never took. They pretended to empathize and told me they would take care of it. Indeed they never billed me, but then ruined my credit by reporting me for non payment - go figure! Since an attorney would charge me far more than the unfair tuition for classes I never took, and collection agencies don't care and offer settlements as long as they get paid - nobody cares and so I decided not to pay out of principle. Now I not only pay higher interest rates on credit cards and loans today, but I also risk losing the AXA job opportunity because they demand explanations just to appear fair before trashing me.

If I succeed and do get the job, I will have to not only have to work for no income, but front all expenses too until I start making some money (commission basis mostly). The number of licenses, permits and exams (series 7 for registered representative, series 63 and 65 to sell life and health insurance, state and federal registrations with NASD and the SEC not to mention my state and so on...) it's not funny! It could take as long as 6 months before I'm trained and even allowed to operate. The cost of all initial licensing fee's is nearly $1,000.00 of which I have to pay for and up front. If successful, they will reimburse a portion later on.

It is unimaginable for me to think that some jerk would go through all this crap, pass all his exams, finally stand to earn over $100,000.00 a year and then risk it all for check fraud. Something just isn't right. I recommend you follow the suggestions already posted by the person before me because if what you say is true - such an idiot can only be on drugs and therefore a danger to himself and others.

Reporting him and yanking his license is as easy as 1-2-3 and if calling his supervisor won't work (and it usually does in such cases), then call the state. By the way, AXA took over Fidelity Investments and so the check should have been made out to AXA Advisors unless he was selling an old Fidelity Insurance product AXA hasn't taken over yet - or is an independent financial consultant.

Best of luck!

I'm a university instructor in need of a second job and with a college degree, only the insurance industry will take me. I contacted my local AXA advisors office and wow - so far they have done background checks and even pulled a credit report. I'm so impressed at how high their standards that I'm afraid not even I will be able to pass their checks.

Side note: I was scammed some years ago as a student by a college that billed me for 7 courses I never took. They pretended to empathize and told me they would take care of it. Indeed they never billed me, but then ruined my credit by reporting me for non payment - go figure! Since an attorney would charge me far more than the unfair tuition for classes I never took, and collection agencies don't care and offer settlements as long as they get paid - nobody cares and so I decided not to pay out of principle. Now I not only pay higher interest rates on credit cards and loans today, but I also risk losing the AXA job opportunity because they demand explanations just to appear fair before trashing me.

If I succeed and do get the job, I will have to not only have to work for no income, but front all expenses too until I start making some money (commission basis mostly). The number of licenses, permits and exams (series 7 for registered representative, series 63 and 65 to sell life and health insurance, state and federal registrations with NASD and the SEC not to mention my state and so on...) it's not funny! It could take as long as 6 months before I'm trained and even allowed to operate. The cost of all initial licensing fee's is nearly $1,000.00 of which I have to pay for and up front. If successful, they will reimburse a portion later on.

It is unimaginable for me to think that some jerk would go through all this crap, pass all his exams, finally stand to earn over $100,000.00 a year and then risk it all for check fraud. Something just isn't right. I recommend you follow the suggestions already posted by the person before me because if what you say is true - such an idiot can only be on drugs and therefore a danger to himself and others.

Reporting him and yanking his license is as easy as 1-2-3 and if calling his supervisor won't work (and it usually does in such cases), then call the state. By the way, AXA took over Fidelity Investments and so the check should have been made out to AXA Advisors unless he was selling an old Fidelity Insurance product AXA hasn't taken over yet - or is an independent financial consultant.

Best of luck!

I find this report a bit hard to believe, but if it did indeed happen, than you have many recourses.

1. A broker or agent is not allowed to comingle funds with personal funds.

2. If the check was made out to Fidelity, did he deposit it in a personal account?

3. Did you contact the police?

4. Did you contact your bank?

If this indeed did happen and the check was made out to Fidelity, than he is guilty of check fraud, securities fraud and will not only lose his NASD license, but you can also file criminal charges.

You say he lied to the SEC, but if the check was made out to fidelity as you claim, what lie could he tell them? Also, unless you are purchasing stocks, you wouldn't be dealing with the SEC, you'd be dealing with the NASD which handles the licensing and complaints of insurance agents that have their Series 6.

Have you filed a complain with AXA? Have you filed a complaint with the Insurance commissioner in IL?

Broker takes a check made out ot Fidelity investments put it into his private account and told the NASD. That his Bride to be owed him money ....Really he told his Bride he would open an account for her with out charging any fees he got all of the incvestment. Later he stoled the home the IRS check Beat her put her in the hospital,Police records found in Cook county vs David Schauss

Broker takes a check made out ot Fidelity investments put it into his private account and told the NASD. That his Bride to be owed him money ....Really he told his Bride he would open an account for her with out charging any fees he got all of the incvestment. Later he stoled the home the IRS check Beat her put her in the hospital,Police records found in Cook county vs David Schauss

Broker takes a check made out ot Fidelity investments put it into his private account and told the NASD. That his Bride to be owed him money ....Really he told his Bride he would open an account for her with out charging any fees he got all of the incvestment. Later he stoled the home the IRS check Beat her put her in the hospital,Police records found in Cook county vs David Schauss

David Schauss took fidelity check placed it into his private account..Lied to customer resolution about the funds so he could retain them as if it was his. He is a acompulsive lier....