The U.S. Securities and Exchange Commission has charged William Sarris, founder of investment platform Linqto, and former executive Joseph Endoso with defrauding retail investors through more than $430 million in special purpose vehicle sales between 2021 and 2024. The SEC alleges the defendants systematically misled investors by falsely claiming prices reflected market conditions when products were actually priced above fair value, fabricating "sold out" status to create artificial scarcity, and misrepresenting manual pricing as algorithm-driven dynamic pricing. The complaint further alleges that Sarris and Endoso assured investors of regulatory compliance despite being warned by legal counsel that Linqto's business violated federal securities laws. The SEC charges include operating an unregistered investment company and illegally selling unregistered securities to non-accredited investors through Linqto subsidiaries.