Minish Joe Hede, of New York, New York, a stockbroker formerly registered with Paulson Investment Company LLC, was terminated from employment on April 28, 2017, based upon allegations that he was uncooperative in the firm’s investigation of a customer initiated investment related arbitration claim, in which the customer’s claim was based upon allegations of fraud.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hede has been named in five customer initiated investment related disputes containing allegations of his misconduct while employed with Josephthal & Co, Inc., JW Genesis Securities, Inc., and Paulson Investment Company, LLC. Specifically, on November 8, 1999, a customer initiated investment related written complaint involving Hede’s conduct was settled for $6,260.16 in damages based upon allegations that he effected unauthorized corporate debt transactions in the customer’s account.
Subsequently, on September 1, 1999, a customer filed an investment related written complaint concerning Hede’s activities, in which the customer requested $131,495.00 in damages based upon allegations that Hede effected excessively risky transactions in the customer’s account, and failed to execute upon the customer’s instructions concerning a reduction in the customer’s margin exposure. On November 1, 1999, another customer filed an investment related written complaint concerning Hede’s activities, where the customer requested $43,000.00 in damages based upon allegations that he guaranteed that the customer would not incur investment losses on over-the-counter equity investments effected in the customer’s account.
Moreover, on December 22, 2016, a a customer filed an investment related written complaint involving Hede’s conduct, in which the customer requested $1,000,000.00 in damages based upon allegations that Hede sold away from his firm and made omissions and fraudulent misrepresentations to the customer concerning a promissory note transaction. Further, on April 13, 2017, a customer filed an investment related arbitration claim regarding Hede’s activities in which the customer requested $1,000,000.00 in damages based upon allegations that he defrauded the customer in reference to a promissory note transaction.
Since January 18, 1994, Hede has been associated with ten different broker dealers, six of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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