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

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