Financial Planner Charged In $10 Million Ponzi Scheme

Posted on August 26th, 2014 at 3:49 PM
Financial Planner Charged In $10 Million Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law Offices:

Sean Meadows, an unregistered Minneapolis financial planner, has been charged with orchestrating a $10 million Ponzi scheme.

From 2007 to 2014, Meadows raised at least $13 million from more than 50 senior investors for his purported Meadows Financial Group, LLC. Neither Meadows nor the firm has been registered with FINRA or with the SEC since 2009.

Meadows promised investors that the funds would be invested in bonds with high rates of return. However, he did not invest their funds and did not have a legitimate means of making interest payments. He used the funds of new investors to pay existing investors and also to pay for Las Vegas gambling trips, to pay credit cards, to make personal investments in property and to give money to his spouse.

Those with information relating to Sean Meadows should contact Eccleston Law. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.

August 11, 2022
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.

August 10, 2022
UBS Wealth Group’s Legal Costs Skyrocket in Q2

UBS Wealth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory probes into UBS’ volatile Yield Enhancement Strategy (YES).