US charges two former Linqto CEOs over $450 million ‘pre-IPO’ fraud scheme, one pleads guilty

Linqto founder indicted in alleged $450 million fraud scheme

A federal indictment has been unsealed charging William Sarris, founder of pre-IPO investment platform Linqto Inc., with securities fraud, broker-dealer fraud, wire fraud and conspiracy offenses, according to prosecutors in the Southern District of New York.

Linqto Founder Faces Federal Charges Over Alleged $450,000,000 Pre-IPO Price Inflation Fraud Scheme

William Sarris was charged with securities fraud, broker-dealer fraud, wire fraud, and conspiracy for allegedly marking up pre-IPO shares and creating false scarcity. Former executive Joseph Endoso pleaded guilty and is cooperating with prosecutors.

US charges two former Linqto CEOs over $450 million ‘pre-IPO’ fraud scheme, one pleads guilty

By Jonathan Stempel NEW YORK, Sept 2 (Reuters) - U.S. prosecutors announced on Wednesday criminal fraud charges against two former chief executive officers of Linqto over their alleged roles in a $450 million scheme to defraud thousands of investors ho...

Linqto Founder Faces Six Federal Counts Over $450M Scheme as Ripple Recovery Continues

Linqto founder William Sarris has been charged with six federal counts over an alleged $450 million pre-IPO investment scheme, bringing a criminal case directly into a bankruptcy that still matters to thousands of retail investors who used the platform to gain exposure to private companies including Ripple. Sarris, 75, founded Linqto and ran the platform as chief executive for about 14 years. Federal prosecutors in Manhattan charged him with two…

Linqto Founder Charged Over $450 Million Pre-IPO Scheme as Ex-CEO Pleads Guilty

US prosecutors charged Linqto founder William Sarris yesterday (Wednesday) over an alleged $450 million pre-IPO investment fraud. Former Chief Executive Officer Joseph Endoso has pleaded guilty and is cooperating with the government.Private-company shares do not have the transparent prices available on public exchanges. Linqto customers did not buy the shares directly.Prosecutors say more than 13,000 customers bought exposure through special-pur…

Founder of Private-Company Investment Firm Charged with Defrauding Investors

Federal prosecutors allege Linqto’s William Sarris marked up prices of pre-IPO shares.