Arbitrators Clear Former Merrill Advisor Of Former Partner’s Misconduct

Posted on April 28th, 2022 at 1:23 PM
Arbitrators Clear Former Merrill Advisor Of Former Partner’s Misconduct

From the Desk of Jim Eccleston at Eccleston Law:

A former Kentucky-based Merrill advisor will have his record cleared of an investor complaint pertaining to the conduct of his former partner who was convicted of theft, according to a Financial Industry Regulatory Authority (FINRA) arbitration award. 

Patrick Strehl, who now works at Stifel, Nicolaus & Co. in Louisville, was “not involved in the alleged embezzlement of funds” from an investor’s account, according to the arbitrators who authorized the expungement. Strehl’s former partner, Christopher Hibbard, received an eight-year prison sentence for embezzling funds from several client accounts. 

According to federal prosecutors, Hibbard embezzled at least $4.2 million between 2007 and 2017. The investor initially filed the claim in 2019 alleging breach of contract and fiduciary duty as well as constructive fraud while seeking $2.5 million in damages. According to BrokerCheck, Merrill agreed to a settlement with the investor for $250,000. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, finra, merrill lynch

Return to Archive

TESTIMONIALS

Previous
Next

I cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.

September 15, 2025
California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.