Former Aegis Capital Broker Malcolm Segal Allegedly Transferred Funds into Own Account

investor rights attorneyMalcolm Segal, of Langhorne, Pennsylvania and Boynton Beach, Florida, is under scrutiny for after complaints from a Pennsylvania-based alleging that $225,000 was transferred from his account without his authorization, according to recent FINRA reports.

Segal, reportedly terminated by Aegis on July 28, 2014, after reports of a FINRA investigation regarding a customer complaint alleging that in December 2013, Segal, on an unauthorized basis, allegedly transferred money via wire from the client’s account, according to FINRA records.

Segal Reportedly Barred By FINRA

In addition to the aforementioned alleged malfeasance, a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges that Segal failed to provide documents and information and appear for testimony.

Said AWC goes on to report that during the course of an investigation into allegations that Segal allegedly transferred Aegis’ customer funds via wire to an outside business under his control, and that FINRA requested documentation regarding this allegation, and Segal allegedly refused to cooperate with requests for documents and information and would not appear for testimony as requested.

By failing to respond to FINRA’s request for documents and information and for failing to appear for testimony, the AWC notes, Segal violated FINRA Rules, and later agreed to a bar from associating with any FINRA member firm in any capacity.

Investment Rights Lawyers Investigating

The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct. 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 investment misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Malcolm Segal

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1157 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.