Tag: Melbourne
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Regulatory Watch News
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
SEC
The Securities and Exchange Commission today charged private fund adviser 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. According to the SEC’s complaint, in a series of schemes from at least December 2021 to the present, the defendants violated their fiduciary duties by misusing client fund assets, and lied to the underlying investors in the funds. In at least three of those schemes, the defendants allegedly misappropriated client assets from certain MGM-managed funds to pay for Meyer’s personal expenses. As outlined in the complaint, the defendants concealed their actions in one scheme by sending statements to investors that inflated their account values.
GRECO publishes summaries of reports on Denmark, Hungary, Türkiye and Ukraine
GRECO
The Group of States against Corruption of the Council of Europe (GRECO) has published the summaries of four reports assessing the progress that Denmark, Hungary, Türkiye and Ukraine have made in implementing outstanding recommendations to prevent corruption among parliamentarians, judges and prosecutors. It has also published a summary of a report on Türkiye evaluating compliance with anti-corruption measures in respect of high officials in the central government and law enforcement agencies. GRECO has published these summaries following its March 2026 plenary decision that a summary of an evaluation or compliance report shall be published within six months of the report’s adoption, unless the member state concerned authorises publication of the full report before that date.
Investigation Troja: EPPO uncovers criminal organisation suspected of having sold over one million used mobile phones as if they were new
European Public Prosecutor's Office
The European Public Prosecutor’s Office (EPPO) in Cologne (Germany) has been conducting searches and arrests since last Saturday against a criminal organisation suspected of having sold over one million mobile phones as if they were new, while in reality they were used. The criminal scheme caused an estimated damage of at least €300 million to EU consumers and a VAT loss of over €30 million to several EU Member States. 1770 police, tax and customs officers carried out over 160 searches and seizures in 19 countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Estonia, Finland, Germany, Italy, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovakia, Spain, Switzerland and the Netherlands), and a witness was heard in the UK. Seven suspects were arrested in Austria, Germany and Spain, including the two leaders of the organisation.
