SEC Sues Linqto Founder, Former Executive Over Retail Fraud Claims
Photo: TokenPost
The Securities and Exchange Commission sued Linqto founder William Sarris and former executive Joseph Endoso on Oct. 9, alleging they misled retail investors through false pricing, artificial scarcity and unlawful securities sales. The SEC alleges Linqto subsidiaries sold more than $430 million of investment interests through special purpose vehicles from 2021 to 2024, generating more than $160 million in revenue. The agency claims the platform concealed the actual premiums charged to investors, falsely presented products as sold out and misled customers into believing prices were adjusted automatically by an algorithm.
Also reported by Coincu.
Source: TokenPost
