Linqto Reaches Deal to Repay Customers After Bankruptcy

Linqto, a fintech startup that let people invest in private companies, went bankrupt.

They misled customers about their holdings in companies like Ripple and SpaceX.

A new deal will allow the customers to be repaid, by offering them shares in a closed-end fund or trust.

These funds would hold Linqto's stakes in private companies.

The old managers wrongly promised customers they could buy shares.

The actions violated securities laws and cannot be transferred to the customers.

The deal must be approved by a judge.