Securities and Exchange Commission on Monday brought settled charges of fraud against Adit Ventures Management, its founder and three partners in connection with pre-IPO investments in companies including Klarna and SpaceX, the agency said in a release. The SEC alleged that the investment adviser had used "false claims and promises" to solicit investments in Adit-managed funds and used client money for the firm's own benefit, including by taking unsecured loans on favorable terms without dis
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(Bloomberg) -- Investment adviser Adit Ventures and co-founder Eric Munson were accused by the US Securities and Exchange Commission of making false claims about investments and overcharging clients with millions of dollars in undisclosed fees to buy shares of companies including SpaceX and Klarna before they were offered to the public.Most Read from BloombergChina Unleashes $28 Trillion Capital Markets to Challenge US in AIStocks Churn as Hormuz Standoff Spurs Rally in Oil: Markets WrapIran Sha
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Klarna broke even for the first time since its $15bn New York listing last September, marking a potential turning point for the European fintech...