To celebrate the opening of a new branch in May 2014, the $2 billion Apple Federal Credit Union in Fairfax, Va. produced life-size posters of its investment advisers, including Ismail Elmas, with a caption that read, "Advice you can trust."
By July, however, the credit union removed Elmas'poster and fired him after an audit revealed his fraud scheme that bilked millions of dollars from 20 Apple FCU members.
On Friday, U.S. District Court Judge Anthony J. Trenga in Alexandria, Va. sentenced the 50-year-old Elmas to 10 and a half years in federal prison and two years of supervised release. Judge Trenga also ordered Elmas to pay $2.97 million in restitution. He pleaded guilty to one count of wire fraud in October.
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