Former CUSO Broker Pleads Guilty to Wire Fraud

Posted on October 31st, 2014 at 4:12 PM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Ismail Elmas, a former registered financial advisor with CUSO Financial, has pleaded guilty to defrauding his clients, many of whom were seniors and widows, of more than $1 million.

During the time of his criminal activity, Elmas worked as an investment adviser at Apple Financial Services (AFS), an affiliate of Apple Federal Credit Union (AFCU). AFCU used CUSO Financial Services to sell investments.  In addition, he owned and operated a bank account in the name of “I.E. Financial Solutions.”, and directed his clients’ money into the account without telling clients that the account was owned by him.  Additionally, he falsely described I.E. Financial Solutions to clients as a particular investment vehicle.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Ismail Elmas, Eccleston Law Offices, James Eccleston, CUSO Financial, Defrauding, Fraud, AFCY

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