According to the New Haven Register, Ismail Elmas plead guilty to one count of wire fraud in connection with an alleged scheme that solicited investment offerings from seniors and widows. Beginning in 2012, Ismail Elmas allegedly raised over $1 million from investors which he deposited into an account he set up called I.E. Financial Solutions. Some investors were told the bank account, I.E. Financial, was an investment product such as a CD or Real Estate Investment Trust.
New Haven Register reports that Elmas was an investment adviser with Apple Financial, an affiliate of Apple federal Credit Union. According to FINRA BrokerCheck, Elmas was a registered agent with several brokerage firms over the years. He worked with BB&T Investment Services from 03/2000 – 06/2001, Cuso Financial Services 06/2001 – 04/2005, Raymond James Financial Services 04/2005 – 11/2007, Cuna Brokers Services 11/2007 – 01/2013, and again with Cuso from 01/2013 – 08/2014.
When registered brokers take advantage of their clients trust by making misleading statements and misappropriation of client funds, they may be liable for investment losses. Furthermore, the brokerage firms that employee such brokers may also be liable for negligent supervision and responsible for losses.
If you were a client of Ismail Elmas and would like to discuss your potential to recover investment losses, please call our Chicago office at (312)238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.