XRP Lawyer John Deaton Sues Linqto Founder Over Alleged Securities Fraud Scheme

XRP lawyer John Deaton started Class action lawsuits against Linqto founder and former CEO William Sarris.

The complaint accused a years-long fraud of unlicensed securities offerings and fraudulent sales practices. It also noted failure to follow regulatory principles that impacted thousands of retail investors.

XRP Lawyer Files for Class Action Over Unlicensed Securities Sales

XRP lawyer, Deaton filed the securities fraud class action on behalf of retail investors who purchased shares of private companies through Linqto’s platform.

The complaint alleged that Sarris had made the sale of shares to Ripple, Uphold, and Kraken, through Special Purpose Vehicles (SPVs), selling shares without due disclosure or registration.

Sarris, according to the suit, was an unregistered broker-dealer in violation of securities rules and regulations of the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA)....

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