SEC Press Releases·Sep 30, 2026, 2:30 PM ET

SEC Charges Meyer Global Management and Its CEO With Defrauding Retail Investors in Private Funds That Held Interests in SpaceX and Other Pre-IPO Securities

The SEC charged private fund adviser Meyer Global Management LLC (MGM) & its CEO Owen E.H. Meyer with defrauding investors regarding SpaceX & pre-IPO securities.
From at least December 2021 to the present, defendants allegedly violated fiduciary duties by misusing client assets & lying to investors.
Defendants allegedly misappropriated client assets to pay for Meyer's personal expenses in at least three schemes.
One scheme involved concealing actions by sending investors inflated account value statements.
In another scheme, defendants required investors to sign releases for reduced distributions to receive any funds from misappropriated proceeds.
Defendants failed to address a capital call deficiency for a fund's SpaceX investment, causing the fund to forfeit nearly $3,000,000.
The complaint filed in U.S. District Court for the Southern District of New York charges violations of the Advisers Act of 1940.
The SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, & a conduct-based injunction against Meyer.