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Gary Allen Cabello Barred for Conspiring to Commit Bribery

On April 13, 2014, FINRA barred Westminster, California broker Gary Allen Cabello formerly registered as a representative with Alta Vista Financial, Inc. and most recently Cabrera Capital Markets, LLC, for conspiring to bribe public officials in San Diego County.

FINRA Case #20122032456001

According to the investigation, Cabello was responsible for generating municipal financing business while employed by Alta Vista Financial. The scope of Cabello's duties allowed him to assist municipal issuers in Southern California to develop financing plans, including bond measure and tax rate calculations needed to finance bond-backed programs.

The investigation states that two of Cabello's projects were to arrange financing for the Sweetwater Union High School District and Southwestern Community College. While Southwestern Community College approved a bond underwriting contract exclusively for Alta Vista, Sweetwater approved bond underwriting services contract for Alta Vista and another firm.

Investigators found that between January 2007 and June 2010, Cabello and other individuals, including members of the Governing Board of Sweetwater, conspired to commit bribery in violation of the California Education Code by providing gifts or other properties of value to Sweetwater officials in exchange for actions or decisions that favored Alta Vista.

In 2013, Cabello pled guilty to two felony counts of conspiracy to bribe school district and community college officials, which resulted in his formal banishment from the financial and securities industry. In April 2014, at Cabello's sentencing hearing, the judge reduced the charges from felonies to misdeamonrs due to Mr. Cabello's cooperation with investigators.

It is worth noting that in March 2014, the Securities and Exchange Commission barred Cabello (Securities Exchange Act of 1934 Release No. 71732 / March 18, 2014). As to the FINRA disciplinary action, it was resolved with Cabello, not admitting or denying responsibility for the allegations to which he entered guilty pleas.

If you have invested with Gary Allen Cabello, Alta Vista Financial or with any broker, representative or firm whose unbecoming conduct, such as criminal conspiracy, bribery or other illicit activity has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

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