August 14, 2018 Comments (0) Blog, Current Investigations, Securities Fraud

KY Advisor Christopher Lee Hibbard Accused of Stealing from Clients

Christopher Lee Hibbard
(Last Updated On: August 14, 2018)

Christopher Lee Hibbard – Chris Hibbard – Merrill Lynch – Louisville, KY

According to Louisville Business First, former Merrill Lynch advisor Christopher Lee Hibbard was fired after the firm concluded he’d allegedly stolen money from clients. Hibbard is reportedly now facing more allegations of theft.

Merrill Lynch reportedly fired Hibbard earlier this year following an internal investigation which also found he had made unauthorized transactions, according to the publication.

According to his BrokerCheck report, Hibbard has eight pending customer disputes since March 2018. Last month, a lawyer on behalf of a client reportedly accused Hibbard of alleged theft, misappropriation of funds, misrepresentation and making unsuitable recommendations, according to FINRA.

He was registered with Merrill Lynch in Louisville, KY beginning in July 2010, according to his broker report. FINRA reportedly barred Hibbard from the securities industry in May, after 3 months of suspension.

The U.S. Attorney’s Office for the Western District of Kentucky is also reportedly investigating Hibbard, according to FINRA, for an “Investigation into the unauthorized use of client funds by registered representative during his employment with the Firm.”

Investigating Potential Claims for Fraud Losses

The White Law Group is investigating the liability that Christopher Lee Hibbard’s employer may have for failing to properly supervising him.

Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Hibbard’s former employers failed to properly supervise him, the firm may be held responsible for investment losses in a FINRA arbitration claim.

If you have suffered losses investing with Christopher Lee Hibbard the securities attorneys at The White Law Group may be able to help you to recover your losses. For a free consultation to discuss your litigation options, please call our offices at 1-888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information please visit us on the web at www.whitesecuritieslaw.com.

 

 

 

 

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