According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Ahmed Gheith (Gheith), in August 2017, was terminated by his employer Paulson Investment Company, LLC (Paulson Investment) after the firm alleged that Gheith was terminated subsequent to discovery of violations of firm supervisory procedures, failure to provide honest answers on annual questionnaires, violations of FINRA Rule 3280, and due to initiation of customer arbitration alleging fraud, negligence, and unjust enrichment. The firm referenced that the product involved was a promissory note
The arbitration referenced in the termination was filed in April 2017 and alleged that Gheith committed fraud, negligent misrepresentations, negligence, and unjust enrichment causing $1,000,000 in a promissory note.
At this time it is unclear the extent and scope of Gheith’s securities violations and outside business activites. Gheith’s CRD fails to list any other activities. The firm’s allegations concerning promissory notes, a private securities transaction, –is known in the industry as “selling away”.