Securities Fraud Lawyer Blog
FINRA bars Gardnerville broker Steve Ybarra
In April, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Steve Ybarra of Gardnerville, Nevada was barred from association with any FINRA member in any capacity. Ybarra consented to findings that he submitted fictitious insurance policy applications to his firm in order to meet certain production goals. The AWC can be found here.
FINRA’s complaint concerned allegations that Ybarra submitted fictitious insurance applications through his firm Farmer’s Financial Solutions’ insurance affiliate in order to meet production thresholds. As a result of submitting the applications, Ybarra received subsidy payments and commissions that he was otherwise not entitled to receive. Ybarra signed the AWC with FINRA in January, 2016 and it became effective in February, 2016 when accepted by FINRA.
Steve Ybarra’s registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Steve Ybarra was registered with:
According to FINRA’s CRD disclosure report, Steve Ybarra has been the subject of one regulatory investigation.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.