{
  "id": 5178821,
  "title": "US charges two former Linqto CEOs over $450 million 'pre-IPO' fraud scheme, one pleads guilty",
  "url": "https://urgent.news/2026/09/02/us-charges-two-former-linqto-ceos-over-450-million-pre-ipo-fraud",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T21:26:49.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/us-charges-two-former-linqto-ceos-over-450-million-pre-ipo-fraud-scheme-one-pleads-guilty-6358786"
  },
  "original_language": "en",
  "account": "Two former CEOs of Linqto, William Sarris and Joseph Endoso, face criminal fraud charges in a $450 million pre-IPO investment scheme. Sarris, 75, founded the now-bankrupt Silicon Valley platform and was CEO for 14 years. Endoso, 66, succeeded Sarris as CEO after serving as president. Prosecutors allege Sarris exploited investors' difficulty valuing private companies by creating false scarcity and charging markups that inflated prices. Endoso pleaded guilty to securities fraud, broker-dealer fraud, and conspiracy. Sarris, who denies the charges, faces additional counts including securities fraud, wire fraud, broker-dealer fraud, and conspiracy. The scheme allegedly ran from 2020 to 2025, attracting over $450 million from more than 13,000 investors. Linqto filed for Chapter 11 bankruptcy protection in July 2025.",
  "summary": null,
  "key_points": [
    "William Sarris founded Linqto, served as CEO for 14 years",
    "Joseph Endoso succeeded Sarris as CEO, pleaded guilty to fraud",
    "Scheme defrauded over 13,000 investors $450 million from 2020-2025"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "US charges two former Linqto CEOs over $450 million 'pre-IPO' fraud scheme, one pleads guilty",
        "url": "https://urgent.news/2026/09/02/us-charges-two-former-linqto-ceos-over-450-million-pre-ipo-fraud-5183947",
        "published": "2026-09-02T21:26:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}