FINRA Bars Ismail Elmas for Theft of Client Funds

Ismail Elmas, of Virginia, submitted an AWC in which he was barred from association with any FINRA member in any capacity. Elmas was registered with CUNA Brokerage Services, Inc. from 2007 through 2013.  He subsequently worked for CUSO Financial Services, L.P. until August 2014.  Without admitting or denying the findings, Elmas consented to the sanction and to the entry of findings that he failed to provide documents and information FINRA had requested in connection with an investigation into allegations that he converted client funds for personal use and participated in an unauthorized outside business activity. (FINRA Case 2014042148801)  Mr. Elmas was discharged by CUSO because he allegedly engaged in an improper outside business activity.  CUSO also claims it is cooperating with a client where a variable annuity was improperly surrendered.

If you invested money with Ismail Elmas, you may be entitled to recover some of your investment losses. Please call our securities law firm toll free at (800) 975-4345 to speak to an attorney to find out how we may be able to help you recover some of your investment losses.