The Securities and Exchange Commission today charged private fund adviser Meyer Global Management LLC (MGM) and its CEO, Owen E.H. Meyer, with defrauding investors and MGM-managed funds in connection with investments in SpaceX and other pre-IPO securities.
According to the SEC, the charges relate to the alleged defrauding of retail investors in private funds that held interests in SpaceX and other pre-IPO companies.
The SEC announced the charges in a press release published on its website. Further details of the allegations were not included in the announcement.
The case forms part of the SEC's ongoing enforcement efforts concerning private fund advisers and their dealings with retail investors.