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XRP Advocate Deaton Files Fraud Suit Against Linqto and Its Ex-CEO
In a shocking move, John Deaton, a prominent XRP advocate and attorney, has filed a class action lawsuit against Linqto and its former CEO William Sarris. The suit accuses Linqto of perpetuating a massive fraud scheme by selling unlicensed private company shares to unsuspecting investors.
According to the complaint, Linqto allegedly utilized undisclosed markups as high as 60% when marketing these private firm shares, including those in Ripple and Kraken. This deceitful practice led thousands of retail investors down a path of financial destruction, with Deaton seeking justice on their behalf.
A closer examination of the allegations suggests that Sarris ignored critical legal warnings in 2023 and 2024 regarding securities law violations, allowing Linqto to bypass regulatory oversight. The lawsuit further claims that Linqto concealed share information and misrepresented ownership and value of these private firms.
Source: coincentral.com
