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SEC settles charges over alleged pre-IPO share fraud

Image of SpaceX being listed on the Nasdaq billboard during it's initial public offering.
Photo: Spencer Platt/Getty Images
Julie DiMauro profile image

Julie DiMauro

2 min read

The defendants allegedly defrauded investors and client funds in connection with investments in pre-IPO shares and charging millions in undisclosed fees.

The SEC brought settled charges against a New York-based investment adviser, its CEO, and three affiliated general partners for allegedly defrauding investors and client funds in connection with investments in pre-IPO shares, such as SpaceX and Klarna.

In its complaint, filed in the US District Court for the Southern

Charges

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