
John E Deaton|Jun 11, 2025 15:31
If the SEC honors its core mission, one would believe that the SEC wouldn’t want to insist on fines or civil penalties that dilute or negatively impact innocent investors’ investments but focus instead, on punishing wrongdoers, if any.
Notice, I said, if any, as it pertains to potential wrongdoers. Current management has publicly stated that there were “very serious” regulatory violations, including, not only noncompliance issues but price manipulation, and that multiple regulators are involved. The new CEO claims that these issues forced him to make the decision to turn off the platform, as it relates ro trading.
The regulatory issues and decision to turn the platform off are being challenged by prominent customers of Linqto, such as @KuwlShow, and others, who’ve organized and established http://freelinqto.com, alleging that the new CEO has a massive conflict of interest and that he may be engaged in a corporate takeover.
I anticipate @linqtoinc will file for bankruptcy protection and pursue a reorganization. I’ll be watching the bankruptcy very closely and I’ll file whatever I need to in order to protect innocent investors.
There’s not much good news when it comes to a company filing bankruptcy but I’m confident, in bankruptcy, the public will learn the precise nature of the regulatory issues, as everything should be made public. I believe the claims related to the new CEO and potential conflicts of interests will be litigated, as well. Any claims associated with price manipulation will likely be made public as well. Also, who got paid what is likely to become public. In other words, we’ll find out if there was true wrongdoing or whether it involved easily correctable compliance mistakes and that the platform shouldn’t have been shut down?
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