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Charges Private Fund Adviser for Allegedly Defrauding Retail Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2672773784","media":"Reuters","labels":["shareholding","policyRegulatory"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2672773784?lang=en_us&edition=fundamental","pubTime":"2026-10-01 03:59","pubTimestamp":1790798345,"startTime":"0","endTime":"0","summary":"SEC charges private fund adviser for allegedly defrauding retail investorsSept 30 -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 shares.Here are some more details:In a complaint filed in the US District Court for the Southern District of New York, the SEC alleged that MGM violated its fiduciary duties by misusing client fund assets and misled underlying investors in the fund.The US Securities and Exchange Commission's complaint said client assets from certain MGM-managed funds were allegedly misappropriated to pay for Meyer's personal expenses.A lawyer for Meyer Global did not immediately respond to a Reuters request for comment.The SEC is seeking permanent injunctive relief and civil penalties against MGM and Meyer, as well as recovering illegal profits using a financial remedy called disgorgement.It 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Wood Buys $149M of Tech Favorites Nvidia, Tesla… and 1 Space Bet. 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