Ripple’s CEO Brad Garlinghouse confirmed that the company never engaged in direct share sales to Linqto, amidst investigations by the SEC and DOJ into Linqto’s practices. Many retail investors were misled with marked-up Ripple shares.
Linqto faces bankruptcy as serious securities law violations come to light. The firm allegedly allowed unaccredited investors to participate in private sales. The former CEO, Bill Sarris, accused the new management of exaggerating problems.
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