Investors Bring Arbitration Claims Againt Aegis Capital For Unauthorized Trading

Shapour Reza Ejlal of Great Neck New York a stockbroker formerly registered with Aegis Capital Corp. is identified in a customer initiated investment related written complaint which was settled for $17,500.00 in damages on March 1, 2019 based upon accusations that unauthorized transactions were effected in the customer’s account and that the customer was placed into unsuitable stocks during the period that Ejlal was associated with Aegis Capital Corp.

Ejlal has been referenced in two more customer initiated investment related disputes containing allegations of his violative conduct while he was employed by JP Morgan Securities and Chase Investment Services Corporation. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer filed an investment related complaint involving Ejlal’s conduct where the customer requested $10,510.24 in damages supported by accusations that misrepresentations had been made to the Chase Investment Services Corporation customer about mutual funds and that securities failed to be appropriate for the customer.

Ejlal is the subject of another customer initiated investment related arbitration claim which was resolved for $62,500.00 in damages supported by allegations that Ejlal failed to execute the timely transfer of the customers’ funds resulting on losses on options and equities holdings.

Ejlal has also been terminated by prior securities broker dealer JP Morgan Securities based upon accusations of the stockbroker using unauthorized communication devices. His registration with Aegis Capital Corp was terminated on January 9, 2018. Between August 29, 2019 and February 12, 2020, Ejlal was registered with Wynston Hill Capital.