Former TD rep faces CIRO misconduct ban over $214,500 client scheme
Most of the $214,500 taken from the elderly client was directed into his personal investment accounts, where he purchased options and depleted the funds. Some of the money was also used to repay a second client from whom he had taken $51,500 in 2022.
The case echoes a pattern CIRO has pursued consistently. A Nanaimo advisor was permanently banned in a separate misappropriation case involving nearly $1.3 million.
Termination and partial repayment
Abisaleh was terminated by the bank on July 4, 2022, for reasons the settlement describes as unrelated to the misappropriation. Within days, one of his former clients filed a complaint with the bank about missing account funds.
On July 7, 2022, Abisaleh purchased a bank draft for $51,509 from his own account and deposited those funds into the client’s account to cover the earlier misappropriation. The settlement noted that TD Investment Services Inc. paid compensation to the elderly client.
Sanctions as part of CIRO enforcement
Under the settlement, Abisaleh agreed to:
