According to a recent FINRA disciplinary action report, former Aegis Capital Corp. broker Malcolm Segal has been permanently barred from FINRA for allegedly transferring client money from their investment accounts to an outside business account under Mr. Segal’s control. Mr. Segal, without admitting or denying the findings, also consented to multiple FINRA sanctions for allegedly misappropriating hundreds of thousands of dollars in client funds. Mr. Segal’s FINRA BrokerCheck report - a history of any disciplinary actions taken against Mr. Segal - shows five instances of customer disputes and one regulatory action.
In addition to Aegis Capital Corp., which termined Mr. Segal in June 2014, Malcolm Segal was also affiliated for more than twenty years with Cumberland Brokerage Corporation in Bucks County, PA, as well as Cumberland Advisors, Inc. based in Vineland, NJ.
If you or anyone you know was a client of Malcolm Segal and believe you may have suffered financial injury due to broker misconduct or investment fraud, please contact our experienced securities attorneys immediately. Time limitations for FINRA actions may apply. To discuss your legal rights, call 1-855-462-3330 now or contact us via email by clicking here.