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Which was shut down by federal regulators in July 2008 after being declared insolvent.Unidentified Cheap Tiffany Bangles members of the late New London stockbroker Edwin F. Rachleff, pinpointed by federal regulators as mastermind of a multimillion-dollar embezzlement scheme that led to the downfall of a local credit union, are being accused in a lawsuit of being complicit in the fraud. An amended complaint filed last month in U.S. District Court by Wells Fargo Advisors Cheap Tiffany Bracelets an account under the name of the Elmore Shoe Co., a defunct Rachleff family business, had been used "solely to advance Rachleff's scheme" to defraud the New London Security Federal Credit Union, which was shut down by federal regulators in July 2008 after being declared insolvent. The suit added that the company had been "owned and operated by Rachleff Cheap Tiffany Cuff Links unknown, related family members." The Elmore Shoe Co.'s unnamed employees, agents and board of directors "negligently and fraudulently participated in Rachleff's scheme to convert the New London's funds for their own personal use," the suit said. An attorney for the Rachleff estate denied the charges and said some or all of the claims, which go back as early Cheap Tiffany Earrings the 1980s, should be dropped based on the statute of limitations. Estate attorney James I. Glasser of New Haven also argued the estimated $11.8 million in credit-union losses were caused by Wells Fargo's failure to properly supervise Rachleff, who had worked for two predecessor companies of the brokerage house. The original counter-claim had been filed last year by Wells Fargo after the National Credit Union Administration sued the firm to reclaim millions of dollars the regulator was forced to pay after declaring New London Security insolvent.