Tr?id=566623520170033&ev=PageView&noscript=1

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
Quotes Bigger

I have the best legal firm in the country to defend me. Awesome job!

Cindy C.

LATEST NEWS AND ARTICLES

1794509056 Law
November 12, 2026
SEC Issues its 2026 Enforcement Report

The Securities and Exchange Commission (SEC) filed 348 enforcement actions in fiscal year 2026, including 235 standalone actions and 113 follow-on administrative proceedings.

1794418115 Law
November 11, 2026
Morgan Stanley Develops AI Super Agents to Build Portfolios and Manage Client Accounts

Morgan Stanley is developing AI-powered "super agents" that could eventually build investment portfolios, manage client accounts and handle many of the routine tasks that wealth management professionals perform today.

1794338007 Law
November 10, 2026
SEC Accuses Crypto Investment Scheme of Raising $130 Million Through Fake Approval Claims

The SEC has charged two entities with operating a cryptocurrency investment scheme that raised more than $130 million from tens of thousands of retail investors.