Pro-XRP Lawyer Deaton Initiates Lawsuit Against Linqto for Investor Fraud

by Giorgi Kostiuk

9 hours ago

John Deaton, a pro-XRP lawyer, has filed a lawsuit against Linqto and its co-founder William Sarris for investor fraud.

Main Event

Deaton's lawsuit is significant due to its scope and potential regulatory implications for crypto platforms. He accuses Linqto of misleading investors about crypto investments.

Allegations

John Deaton stated that Sarris orchestrated a multi-year scheme using undisclosed markups (as high as 60%), misleading exemptions, and unlicensed sales tactics to sell shares in private companies like Ripple and Kraken via Linqto’s platform.

Sarris orchestrated a multi-year scheme using undisclosed markups (as high as 60%), misleading exemptions, and unlicensed sales tactics to sell shares in private companies like Ripple and Kraken via SPVs on Linqto’s platform.CITE_W_A

Immediate Effects

Immediate effects include heightened skepticism within the crypto investment sector, especially concerning non-licensed intermediaries. Linqto's bankruptcy filing underscores the serious financial implications for retail investors. The allegations may intensify regulatory actions against unlicensed sales of private equities in crypto firms.

Deaton's lawsuit against Linqto could lead to increased scrutiny from the SEC and FINRA regarding similar investment platforms. Investors remain concerned about recovery prospects amid rising regulatory oversight.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

BlockDAG’s Buyer Battles: Pre-sale Hits $335M as LTC Targets $97.10 and ETH Approaches Key Resistance

The cryptocurrency market is buzzing with BlockDAG, LTC, and ETH making significant moves. Discover the latest trends and strategies.

Giorgi Kostiuka few seconds ago

XRP Analysis: Current Trends and Potential Growth

Expert analysis shows signs of possible significant price change for XRP due to tight Bollinger Bands.

Giorgi Kostiuka minute ago

Hyperliquid and BlockDAG Capture Investor Attention Amid Stellar's Challenges

Analysis of the current state of the cryptocurrency market: Hyperliquid reacts to a large purchase, Stellar faces difficulties, while BlockDAG captures interest with a market debut.

Giorgi Kostiuka minute ago

OnyxCoin (XCN) Market Activity: What’s Next?

OnyxCoin shows signs of market activity. Analysis of indicators and price forecasts.

Giorgi Kostiuk2 minutes ago

Coinbase and Perplexity AI Partnership: New Opportunities for Crypto Investors

Coinbase and Perplexity AI have announced a partnership to provide real-time cryptocurrency data. This merger of AI and blockchain may enhance trading quality.