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Market News

New Twist in Ripple SEC Case As Penny Stock Dealer Claims Evidence

Keener wrote, adding that his proprietary information could be of “tremendous interest and value to the defendants and the broader crypto industry.”

Written By Dishita Malvania Dishita Malvania
Fact Checked by Dhara Chavda Dhara Chavda
Published 2025-04-04·Updated 1 year ago
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New Twist in Ripple SEC case as penny stock dealer claims evidence

In a strange twist in the ongoing SEC vs. Ripple lawsuit, a man recently sued by the Securities and Exchange Commission has filed an emergency letter with the court, claiming to possess “decisive evidence” that could clear Ripple Labs and somehow defend the liberty of the American people.

The filing, submitted by Justin W. Keener and timestamped April 3, appears in the Southern District of New York under Case 1:20-cv-10832-AT-SN and was marked Document 981 in the Ripple docket.

🚨NEW: An odd filing just now in the @SECGov vs. @Ripple docket — an emergency request to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”

The letter, from a man named Justin W. Keener, doesn’t make clear what the so-called… pic.twitter.com/AQSDFIW6gi

— Eleanor Terrett (@EleanorTerrett) April 3, 2025

Keener, who is not a party to the lawsuit, claims in the letter that he holds “data and information believed to be decisive evidence to settle controlling questions” that have plagued Americans for over a decade. While vague on details, the letter hints at something to do with physical investment contracts Keener has allegedly been collecting — though how they relate to Ripple or how they would aid its defense remains entirely unclear.

“By God’s miracle, I hold data and information… central to 10 years of nightmarish chaos thrown upon all of us unsuspecting Americans,” Keener wrote, adding that his proprietary information could be of “tremendous interest and value to the defendants and the broader crypto industry.”

But Keener’s involvement in the case raises eyebrows for another reason.

According to recent court records, the SEC previously sued Keener himself for operating as an unregistered penny stock dealer. In that separate case, a court ordered him to pay over $10 million in penalties. That enforcement action significantly undermines the credibility of his unsolicited intervention.

The document, which appears to be connected to a site titled “TheHoweyTest.com,” was filed through the court’s Pro Se Office, which allows individuals to file documents without a lawyer.

So far, neither the SEC nor Ripple has responded to Keener’s filing, and it’s unclear whether the court will take his claims seriously or even acknowledge them.

The Ripple case, which has become one of the most closely watched crypto enforcement actions in the U.S., continues to draw strange entries and intense public attention. With Keener now entering the scene with cryptic claims and a controversial track record, this latest twist adds yet another layer of drama to an already complex legal battle.

Also Read: SEC to Withdraw Kraken Lawsuit with No Penalties

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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TAGGED:Ripple (XRP)
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Dishita Malvania
By Dishita Malvania
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Dishita Malvania is a Senior Crypto Journalist at The Crypto Times, based in Ahmedabad, India. She manages extensive daily news operations, tracking global digital asset trends, major international summits, market momentum, and localized exchange environments. Her investigative reporting covers India's evolving regulatory updates and enforcement actions, ensuring comprehensive documentation of regional market upheavals. Dishita holds a B.Tech degree in Computer Engineering, with an additional certification in Digital Media. Before joining The Crypto Times, she built a massive catalog of tech and media coverage. Her core reporting beats include crypto regulation and policy, blockchain security and cybercrime, AI in finance, Web3 infrastructure, and crypto fraud investigations and enforcement actions. Her three years of high-volume digital journalism have shaped her rapid fact-checking capabilities, source communication, and clear reporting style, making her work widely cited across premier global news outlets including Entrepreneur.com, The Independent, The Verge, and Metro.co.uk.
Dhara Chavda
By Dhara Chavda
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Dhara Chavda is a Research Analyst at The Crypto Times. She covers U.S. crypto regulation — including the CLARITY Act and GENIUS Act — DeFi security and major protocol exploits, and investigations into crypto fraud and enforcement actions. Her work emphasizes primary sourcing and on-chain verification over secondary commentary. Dhara joined The Crypto Times in 2020 and has followed every major market cycle since — the 2021 bull run, the 2022 Terra and FTX collapses, the 2023 banking turmoil, the 2024 spot Bitcoin ETF launch, and the 2025–2026 regulatory cycle — first assigning and reviewing the desk's coverage, and now writing it herself. Her reporting has been cited by international outlets including TheStreet and Argentina's La Nación. She holds a Bachelor of Engineering in Computer Engineering from Gujarat Technological University (GTU), which informs her technical reporting on on-chain data, smart contract analysis, and protocol architecture.

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