If you have lost money investing with Reniero Francisco or in Arista, LLC, you may be able to recover your losses through FINRA arbitration or securities litigation.
The Financial Industry Regulatory Authority (FINRA) recently barred Reniero Francisco, a broker with LPL Financial, LLC for his alleged failure to cooperate with FINRA’s investigation of Mr. Francisco’s involvement in the management and sale of Arista LLC, a registered Commodity Pool Operator (CPO) with its principal place of business in Newport Coast, California.
In December, 2012, the U.S. Commodity Futures Trading Commission (CFTC) initiated action against Arista, Arista’s principals , and Mr. Francisco for allegedly carrying out a fraudulent scheme to misappropriate millions of investors’ money through commodity futures and options. Reniero Francisco and his co-defendent, Abdul Sultan Walji, were indicted and subsequently plead guilty to defrauding and misappropriating more than $9.5 million from more than 39 investors by misrepresenting the nature and performance of Arista, LLC and issuing fraudulent account statements to investors to cover up massive losses. Reniero Francisco has pled guilty to conspiracy and fraud charges and was sentenced to 97 months of imprisonment. Mr. Francisco first became registered with FINRA in 1988. From July 2002, to October 2010, Reniero Francisco was associated with LPL Financial LLC.
Investors who have suffered losses in commodity futures and options that they purchased from Reniero Francisco or Arista, LLC, may be able to recover their investment losses through FINRA arbitration or securities litigation.
If you are an investor that has purchased commodity futures and options, you may be able to recover your losses through FINRA arbitration or securities litigation. Please contact Kons Law Firm at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentlossattorney.com.