SEC Charges Linqto Founder and Former Executive Over $430 Million Pre-IPO Retail Fraud
Photo: Blockchain Reporter
The U.S. Securities and Exchange Commission charged two former Linqto, Inc. executives on October 9, alleging they defrauded thousands of retail investors who used the San Jose platform to buy exposure to pre-IPO “unicorn” companies. Between 2021 and 2024, a Linqto subsidiary sold more than $430 million of special purpose vehicles holding private-company interests to retail buyers, according to the SEC’s litigation release . The complaint names founder William Sarris and former executive Joseph Endoso and adds a civil enforcement action to the regulatory fallout that has surrounded Linqto since its collapse.
Source: Blockchain Reporter
