Linqto Founder William Sarris Faces Federal Securities Fraud Indictment
DOJ charges Linqto founder with securities fraud, broker-dealer fraud, wire fraud, and conspiracy over alleged pre-IPO share markup scheme affecting 13,000 customers.
The Department of Justice unsealed an indictment charging William Sarris, founder of the pre-IPO investment platform Linqto, with securities fraud, broker-dealer fraud, wire fraud, and conspiracy. Prosecutors allege the scheme ran from 2020 through 2025 and involved artificial scarcity, price manipulation, and markups that exceeded repeated attorney warnings.
Charges and penalties
Former Linqto executive Joseph Endoso has pleaded guilty and is cooperating with prosecutors. The indictment states Sarris sold shares allocated to customer accounts in January 2025 to meet revenue targets without customer knowledge. Linqto filed for bankruptcy in mid-2025 after the alleged conduct brought in more than $450 million from over 13,000 customers.
Pending matters
Each fraud count carries a maximum penalty of 20 years in prison. Conspiracy counts are also included. Trial outcome and final restitution amounts remain pending. Exact customer recovery or loss distribution is not yet detailed in public filings.