SEC charges former Linqto executives over alleged $430M fraud
CIE News ·
The SEC charged former Linqto executives William Sarris and Joseph Endoso for allegedly misleading retail investors while selling over $430 million in special purpose vehicles.
The SEC filed a civil fraud complaint on October 9, 2026, against former Linqto executives William Sarris and Joseph Endoso in the U.S. District Court for the Northern District of California. According to the SEC, a Linqto subsidiary sold more than $430 million in special purpose vehicles between 2021 and 2024 while misleading retail buyers about pricing, false subscription levels, and regulatory compliance. Regulators claim the platform manually set prices despite marketing them as dynamic and algorithmic, and sold unregistered securities to unaccredited investors. The SEC seeks civil penalties, disgorgement with prejudgment interest, permanent injunctions, and officer-and-director bars.