Linqto former CEOs charged in $450 million pre-IPO fraud scheme

U.S. prosecutors have charged two former CEOs of the now-bankrupt Silicon Valley investment platform Linqto in connection with an alleged $450 million fraud scheme. The charges involve defrauding thousands of investors seeking access to pre-IPO companies such as Anthropic, Ripple, and SpaceX.

William Sarris, the founder and former CEO, faces six counts in Manhattan, including securities fraud, wire fraud, broker-dealer fraud, and conspiracy. Prosecutors allege that between 2020 and 2025, Sarris manufactured “false scarcity” and imposed undisclosed markups to inflate prices and increase the value of his own stake in the company. Sarris’s legal counsel has stated that he is innocent and intends to fight the charges.

Joseph Endoso, who succeeded Sarris as CEO, has pleaded guilty to securities fraud, broker-dealer fraud, and conspiracy. Endoso is reportedly cooperating with prosecutors. Linqto filed for Chapter 11 bankruptcy protection in July 2025.