[U.S. SEC Sues Two Private Equity Funds: Alleged False Sales of Pre-IPO Shares of OpenAI, SpaceX and Misappropriation of Investor Funds] According to Fortune, the U.S. Securities and Exchange Commission (SEC) has filed lawsuits against two private equity fund cases, accusing fund advisors of raising funds under the guise of investing in pre-IPO shares of popular tech companies like OpenAI and SpaceX, while allegedly providing false information to investors and misappropriating part of the funds. The SEC stated that Meyer Global Management and its head Owen Meyer allegedly raised at least $18.5 million from nearly 100 investors to purchase pre-IPO company shares, but misappropriated at least $1.27 million, including using fund money for personal consumption, entertainment expenses, and personal investments. Among the allegations, the SEC accused Meyer of establishing funds intended for investing in OpenAI and SpaceX shares, but some of the funds did not actually hold the relevant assets.