SEC Says Adviser Took $1.2M From Pre-IPO Investment Funds

By Sydney Price ( October 1, 2026, 6:01 PM EDT) -- The U.S. Securities and Exchange Commission accused a New York-based private fund adviser and its CEO of misappropriating over $1.2 million of client funds intended for investments in shares of businesses that had not yet undertaken initial public offerings, including technology companies like OpenAI and now-public SpaceX....

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