Published on:

Former Aegis Capital Broker Malcolm Segal Under Investigation for Unauthorized Transfers

According to the Financial Industry Regulatory Authority (FINRA), former Aegis Capital Corporation (Aegis) stockbroker Malcolm Segal, of Langhorne, Pennsylvania and Boynton Beach, Florida, is under investigation for a Pennsylvania-based customer complaint alleging that $225,000 was transferred from his account without his authorization. According to FINRA records, “Mr. Segal failed to cooperate with an internal investigation into a customer complaint alleging that in December 2013, Mr. Segal, on an unauthorized basis, transferred monies via wire from the client’s account.” Malcolm Segal was discharged by Aegis on July 28, 2014.

In addition to alleged unauthorized transfers of funds, our law firm is also investigating whether Mr. Segal engaged in unauthorized sales of certificates of deposit to Aegis customers.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to a stockbroker’s unauthorized transfers of funds, theft and/or misappropriations such as those unauthorized transfers allegedly committed by Mr. Segal can bring forth claims to recover losses against Aegis, which should have prevented its broker from committing illegal activity.

Have you suffered losses in your Aegis account due to unauthorized transfers by your broker? Did you purchase certificates of deposit through Aegis and/or Mr. Segal? Was Malcolm Segal your stockbroker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Aegis brokers who may have engaged in misconduct and caused investors losses.

The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over , Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.