SEC Charges MGM, CEO Over SpaceX Pre-IPO Fund Fraud — SkimNews
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- SEC charged private fund adviser Meyer Global Management LLC (MGM) and CEO Owen E.H. Meyer with defrauding both outside investors and MGM-managed funds in connection with investments in SpaceX and other pre-IPO securities
- Owen E.H. Meyer, MGM's CEO, is named individually in the action alongside the firm, with the alleged fraud tied to private funds that held pre-IPO stakes including SpaceX
Why it matters: The SEC charged both Meyer Global Management and CEO Owen E.H. Meyer in a fraud case tied to private funds holding SpaceX and other pre-IPO securities. The action targets alleged fraud against both outside investors and the MGM-managed funds themselves, putting the CEO personally on the hook alongside the firm.
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