News Releases2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | Show fewer years
February 3, 2012
NFA takes emergency enforcement action against California firm Arista LLC and its principal, Abdul Walji
February 3, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against Arista LLC (Arista) and its principal, Abdul Sultan Walji also known as Abdul Valji. Arista is a NFA Member commodity pool operator located in Newport Coast, California and Walji is also an NFA Associate.
NFA has taken the emergency enforcement action because Arista and Walji have provided false and misleading information to NFA and Arista's investors concerning the firm's trading performance and its significant loss of investor funds. Arista and Walji's failure to cooperate has left NFA unable to determine whether Arista, Walji and Reniero Francisco, another listed principal of the firm, have acted properly in their dealings with Arista's investors or whether they have misappropriated funds and provided false information to NFA and investors concerning their investments.
The Member Responsibility Action (MRA) and Associate Responsibility Action (ARA) prohibit Arista, Walji and any person acting on Arista's behalf from soliciting or accepting funds or placing any trades for themselves or on behalf of customers, commodity pools, or investors. Arista, Walji and any person acting on Arista's behalf are also prohibited from disbursing or transferring any funds over which they or any person acting on their behalf exercises control without prior approval from NFA.
Arista and Walji may request a hearing before NFA's Hearing Committee.
The following Compliance staff members are responsible for this case: Christine Kreke (312-781-1289) and Chris Mitseff (312-781-1477).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.