Aegis Capital Corp—Unregistered Sales of Penny Stocks

investors rights attorneysAegis Capital Corp Allegedly Engaged in Sales of Unregistered Penny Stocks and Anti-Money Laundering Violations

Aegis Capital Corp allegedly engaged in the sale of unregistered penny stocks, including China Crescent Enterprises, Inc. (CCTR), TAO Minerals Ltd. (TAON), New Market Technology, Inc. (NWMT), AlterNet Systems, Inc. (ALYI), and Numobile, Inc. (NUBL), according to a FINRA news release   presently being reviewed by attorneys Alan Rosca and Joe Peiffer.

In addition, Aegis Capital Corp allegedly engaged in anti-money laundering violations, FINRA also notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Aegis Capital Corp for allegedly selling unregistered penny stocks and failing to enforce proper anti-money laundering procedures, and would like talk to investors who invested more than $300,000 in any of these stocks.

Aegis Capital Corp Fined $950,000 by FINRA for Allegedly Improperly Selling Unregistered Penny Stocks and for Failing to Implement Anti-money Laundering Policies and Procedures

Aegis Capital Corp. has been fined $950,000 by FINRA for improperly selling unregistered penny stocks and for related supervisory failures, and for also failing to implement anti-money laundering (AML) policies and procedures, according to a recent FIRNA press release currently under review by attorneys Alan Rosca and Joe Peiffer.

Furthermore, Robert Eide, Aegis’s President and CEO, in a separate proceeding, was suspended for 15 days and fined $15,000 for allegedly failing to disclose more than $640,000 in outstanding liens, FINRA also notes.

Aegis did not admit to FINRA’s allegations.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of the alleged sale of unregistered penny stocks. They are currently investigating Aegis Capital Corp for allegedly engaging in the sale of unregistered penny stocks. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Aegis Capital Corp for allegedly engaging in the sale of unregistered penny may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

They would like talk to investors who invested more than $300,000 in any of the following stocks: China Crescent Enterprises, Inc. (CCTR), TAO Minerals Ltd. (TAON), New Market Technology, Inc. (NWMT), AlterNet Systems, Inc. (ALYI), and Numobile, Inc. (NUBL).

Alan Rosca (1159 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.