SEC Charges Private Fund Adviser for Allegedly Defrauding Retail Investors

SEC charges private fund adviser for allegedly defrauding retail investors

Sept 30 (Reuters) - The US securities regulator on Wednesday charged Meyer Global Management and its CEO Owen Meyer ​over the private fund adviser's ‌schemes that allegedly took advantage of retail investors seeking exposure to SpaceX and other pre-IPO...

OpenAI, SpaceX investor funds went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges in charges against private fund advisers

One fund manager allegedly paid his 4 a.m. strip club bill from fund capital after his card was declined.

SEC charges Meyer Global with SpaceX pre-IPO fraud as private-market bets move on-chain

On September 30, the Securities and Exchange Commission (SEC) filed a suit against private investment adviser Meyer Global Management and its CEO Owen E.H. Meyer for allegedly defrauding investors in funds with investments in SpaceX and other securities before their Initial Public Offering (IPO). This lawsuit comes at a time when investors who have been unable to access private firms are increasingly turning towards various forms of investing, s…

Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges

The Securities and Exchange Commission is dropping the hammer on private fund advisers who allegedly mishandled millions in investor assets under the guise of granting them lucrative pre-IPO shares in coveted startups such as OpenAI, SpaceX, and others. According to two separate cases announced…

SEC Charges Meyer Global, CEO Over Alleged Retail Investor Fraud

The SEC alleges client assets were misused and a fund forfeited nearly $3 million invested in SpaceX after a capital call deficiency.