Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => XRP - Ripple Forum => Other Popular Cryptos / Coins => Ripple News & Updates => Topic started by: Dociko on March 12, 2021, 11:24:45 AM
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How much they spend at the grocery store” isn't relevant to the SEC's ongoing XRP securities lawsuit, argues the legal team for Bradley Garlinghouse and Christian Larsen.
Ripple executives Bradley Garlinghouse and Christian Larsen have rejected demands by the United States Securities and Exchange Commission to provide personal financial information as part of the ongoing investigation into a possible XRP sales securities violation.
On March 11, lawyers for the Ripple Labs co-founders requested a protective order regarding their personal information and called for the court to quash subpoenas issued to six of the defendants’ banks.
The banking institutions named specifically were SVB Financial Group, First Republic Bank, the Federal Reserve Bank of New York, Silver Lake Bank, Silvergate Bank and Citibank.
Source: Cointelegraph
(https://cointelegraph.com/news/ripple-execs-refute-sec-investigation-of-personal-finances-as-overreach)
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Thanks for the news @Dociko. Personally I think Christian Larsen and Bradley Garlinghouse are making mistakes with their decisions. I don't think the SEC wants to check how much money they spend on bread or beer, what the SEC wants to investigate are their properties, houses, cars, boats, and also the possibility that they have bank accounts in tax havens. Refusing to allow all of their accounts to be verified makes them appear more guilty to the SEC and public opinion, as well as further damaging the image of Ripple and XRP.