SEC settles charges over SpaceX, Klarna, pre-IPO share fraud

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 ⁠disclosure to clients.

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…