Securities Fraud and Mismanagement

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Did the actions/inactions of my broker fall below the required standard of care?

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A former Merrill Lynch advisor, Chris Hibbard, of the Louisville, Ky., area, fired after Merrill concluded he had allegedly stolen money from clients, is facing more allegations of theft.  Call 1-866-817-0201 for a free consultation if you were a client of Mr. Hibbard.  Representations are handled on a contingency basis.

The record of Hibbard shows that his former employers are currently defending eight lawsuits concerning Hibbard misappropriation of funds.  These suits are all in the FINRA arbitration process.

Stock handcuffsMerrill Lynch fired Hibbard in February following an internal investigation which also found he had made unauthorized transactions, according to the publication. FINRA has barred Hibbard.

Since then, more accusations have been lobbed against the former Merrill Lynch representative, including in March, April and May.

And last month, a lawyer on behalf of a client accused Hibbard of alleged theft, misappropriation of funds, misrepresentation and making unsuitable recommendations, according to Finra, Louisville Business First writes.

The former broker had been with Merrill Lynch since July 2010, and one of the complaints alleges misappropriation of funds in 2009 and 2010, when Hibbard had been with Morgan Keegan & Co., which is now part of Raymond James, Louisville Business First writes.  Hibbard first started in the securities industry at A.G. Edwards in 1999.

Meanwhile, the U.S. Attorney’s Office for the Western District of Kentucky is also investigating Hibbard, according to Finra documents cited by Louisville Business First, although the publication’s search of court records didn’t find any charges filed thus far.