Aegis Capital Corp Named Customer Churning Claim

Indra Ramsahai, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $90,000.00 in damages based upon allegations that Ramsahai churned the customer’s investment account and effected unsuitable leveraged exchange traded fund transactions.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Ramsahai has been named in three additional customer initiated investment related disputes containing allegations of Ramsahai’s misconduct while employed with Aegis Capital Corp, Joseph Gunnar & Co., and Princor Financial Services Corporation. Specifically, on January 2, 2002, a customer initiated investment related complaint involving Ramsahai’s conduct was settled for $55,000.00 in damages based upon allegations that Ramsahai was liable for the customer’s poor investment performance.

Additionally, on May 1, 2014, a customer initiated investment related arbitration claim regarding Ramsahai’s activities was resolved for $11,250.00 in damages based upon allegations that Ramsahai made misrepresentations and omissions to the customer and effected investment allocations within the customer’s portfolio which were not suitable for the customer. On December 1, 2014, another customer filed an investment related written complaint involving Ramsahai’s conduct based upon allegations that Ramsahai effected excessive and unauthorized trades in the customer’s investment account.

Ramsahai’s registration with Aegis Capital Corp. was terminated on October 18, 2013. From December 19, 2013, to May 6, 2016, Ramsahai was registered with Principal Securities, Inc.