SEC Charges Meyer Global Management and CEO with Retail Investor Fraud
Retail investors in Meyer Global's private funds face SEC enforcement actions filed Sept. 30, 2026.
The Securities and Exchange Commission filed a complaint on Sept. 30, 2026 charging private-fund adviser Meyer Global Management LLC and its chief executive, Owen E.H. Meyer, with defrauding investors in funds that held interests in SpaceX and other pre-IPO securities.
The complaint alleges a series of schemes dating from at least December 2021 to the present in which the defendants misused client fund assets, misrepresented account values, and required investors to sign releases that limited their distributions.
One scheme involved three MGM-managed funds in which investor proceeds were misappropriated, while another scheme saw the defendants fail to satisfy a capital-call deficiency, causing the fund to forfeit its nearly $3,000,000 investment in SpaceX.
The SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and a conduct-based injunction against Meyer. "This case is a reminder that fraudsters can exploit the allure of exclusive, high-return pre-IPO access to take advantage of retail investors," said Corey A. Schuster, chief of the Enforcement Division's Asset Management Unit.
The complaint, filed in the U.S. District Court for the Southern District of New York, charges violations of the antifraud provisions of the Advisers Act of 1940.
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