The 43-year-old Schoenberger was hired just last week to host a PM Drive show on the station and just three days later was "sanctioned" by the Securities and Exchange Commission to stay away from the financial field after he admitted to fraud.
Schoenberger was sanctioned by the SEC for "fraudulent conduct in the offer or sale of securities." The statement outlined Schoenberger's role in convincing four investors to give him a total of $130,000 after he told them he would invest it in a hedge fund that had $65 million under management.
Schoenberger declined comment on the SEC settlement.
Now all references to him have been scrubbed from the station's website.