Christopher Hellman Fraud Lawsuit Merrill Lynch, Pierce Fenner & Smith

Christopher Hellman Fraud Lawsuit Merrill Lynch, Pierce Fenner & Smith

Investment Loss Recovery Group (IRG) is currently conducting an inquiry into accusations against the former broker and securities agent Christopher C. Hellman, who was an employee at Merrill Lynch, Pierce, Fenner & Smith, Inc., in Boca Raton, Florida, since September 2016 to September 2018.

Lately, IRG acquired a $440,000 settlement in lieu of one of Mr. Hellman’s former clients who claimed that he had embezzled funds. Mr. Hellman was banned permanently from joining any FINRA member in any way in December 2018 by FINRA, an acronym for Financial Industry Regulatory Authority.

The lawyers at Investment Loss Recovery Group possess more than 40 years of combined legal expertise and a comprehensive investment services sector background. They have recovered losses for financiers who become a victim of such schemes all over the country via securities mediation, compensation, negotiation and litigation. If you are also one of those who experienced investment losses due to Mr. Hellman and his former broker company, get in touch with the Investment Recovery Group today. They will carefully review your matter in a free of cost session.

Who is Christopher Hellman?

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Are you interested in learning about Christopher C. Hellman (CRD# 6584084)? If yes, then you can get the required information via two publicly accessible databases i.e. the FINRA Central Registration Depository (CRD) and the Investment Adviser Registration Depository (IARD).

Mr. Hellman got into the securities sector in January 2016. From January 2016 to August 2016, he was enlisted with FMS Bonds, Inc., in North Miami Beach, Florida. From there, he went on to work in the Boca Raton branch of Merrill Lynch, Pierce, Fenner & Smith, Inc. from September 2016 until September 2018. He was expelled from the company due to his incapability in fully disclosing partaking in outside industry activities and the inability to abide by business standards related to selling away.

“Selling away” happens when an agent implores customers to purchase securities the broker’s company does not provide or incorporate in its list of permitted products. Usually, a brokerage company instructs its agents to suggest or sell only those schemes that have been permitted after due diligence. Moreover, agents must reveal their external business undertakings so that the company can decide whether these undertakings present conflicts of interest or not.

Christopher C. Hellman’s FINRA Investigation

Back in November 2018, a FINRA Letter of Acceptance, Waiver, and Consent (FINRA No. 2018060168801) was signed by Mr. Hellman in which he agreed to the following discoveries:

FINRA commenced an inquiry on Mr. Hellman after Merrill Lynch reported a Form U5 concluding his registration on October 16, 2018. After ten days, FINRA sent a petition to Mr. Hellman for files and other details.

Even though he confessed FINRA’s petition, Mr. Hellman told FINRA on November 19, 2018 (during his counsel) that would not create the records or other asked information. In December 2018, FINRA banned him from linking with any FINRA member in any manner due to his incapability to oblige.

What Are the Claims Against Christopher C. Hellman?

Both claims arose out of his supposed performance while working with Merrill Lynch. One claim led to a settlement. Another one is pending.

  • IRG represented a client who registered an accusation in September 2018, claiming that Mr. Hellman embezzled funds on October 23, 2017. The customer claimed $600,000 in losses. The situation included a debt-municipal product. As mentioned above, the case was settled for $440,000.
  • In November 2018, a client registered an accusation that blamed Mr. Hellman of embezzling funds and selling away on May 25-26, 2017. It entails “private pensions” and $155,000 in alleged losses.


Agents have a duty to obey rules and regulations of FINRA, which are meant for safeguarding clients. Moreover, FINRA inflicts a duty on brokerage companies to oversee the behavior of the agents and to assure their compliance with all FINRA rules. If an agent breaks or violates FINRA principles or participates in illegal activities, and the client experiences loss due to the misconduct of the agent then the said individual, as well as the company he works for, can be held liable.

Investment Loss Recovery Group lawyers are former licensed securities brokers and brokerage company defense attorneys who currently focus solely on defending the rights of financiers. They want to recover our clients’ losses through personal and confidential mediation proceedings. They also assist customers in recovering losses via settlement and mediation. They work with financiers nationwide.

In case you have faced financial losses after working with Christopher C. Hellman, Investment Loss Recovery Group will work with you to make a plan that is aimed at optimizing the recovery of your losses. Call or reach them online today to find out more and speak about your case in a free and confidential consultation.

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