Malcolm Segal—Alleged Ponzi Scheme

Malcolm Segal Allegedly Operated a Ponzi Scheme, Reportedly Selling So-called CD’s to Customers Under False Pretenses

Malcolm Segal allegedly ran a Ponzi scheme wherein he reportedly sold so-called certificates of deposits (CDs) to his brokerage customers by falsely claiming that he could get them higher interest rates of return on FDIC-insured CDs than otherwise available to the general public, according to SEC Documents currently being reviewed by attorneys Alan Rosca and Joe Peiffer.

The SEC goes on to allege that Segal allegedly purchased CDs on behalf of his investors but covertly pocketed them early and the proceeds.

The Peiffer Rosca Wolf investor rights lawyers are currently investigating Malcolm Segal, a Pennsylvania stockbroker, and his alleged Ponzi scheme, which finally collapsed in July of 2014.

Malcolm Segal Allegedly Raised $15.5 Million from at Least 50 Investors, Reportedly Stole Money from Investors in Order to Purchase Florida Condo and Assorted Luxuries.

Malcolm Segal allegedly raised approximately $15.5 million from at least 50 investors, and may have not even purchased said CDs at all, despite telling customers he had, according to SEC Documents under review by attorneys Alan Rosca and Joe Peiffer.

Malcolm Segal, said SEC Documents report, used funds from investors in a Ponzi scheme fashion for purported interest payments and principal repayments to earlier investors. Furthermore, the SEC alleges that Segal eventually started stealing directly from his customers’ brokerage accounts in a desperate effort to keep funds rolling into the operation.

What is more, Segal allegedly forged letters of authorization to facilitate the transfer of customer funds to accounts he controlled, according to SEC Documents being perused by attorneys Alan Rosca and Joe Peiffer. Finally, the SEC further alleges that Segal used money from investors to purchase a Florida condo and assorted luxuries.

Investor Rights Lawyers Investigating

The Peiffer Rosca Wolf investor rights lawyers often represent investors who lose money as a result of alleged Ponzi schemes. They are currently investigating Malcom Segal for allegedly operating a Ponzi scheme. 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 Malcolm Segal for his alleged Ponzi scheme 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 (1174 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.