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

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The U.S. Securities and Exchange Commission announced on Sept. 30, 2026 that it charged 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, through schemes occurring from at least December 2021 to the present. The SEC's complaint alleges the defendants misappropriated client assets in at least three schemes to pay for Meyer's personal expenses, concealed actions through inflated investor statements, required investors to sign releases accepting reduced distributions, and failed to address a capital call deficiency that resulted in an MGM-managed fund forfeiting its nearly $3,000,000 investment in SpaceX. The complaint, filed in the U.S. District Court for the Southern District of New York, charges the defendants with violating antifraud provisions of the Advisers Act of 1940, and the SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, civil penalties against both defendants, and a conduct-based injunction against Meyer.

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