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Courtroom packed for Ponzi scheme case

August 21, 2014
Associated Press

MINNEAPOLIS (AP) — A financial planner accused of stealing more than $10 million from his clients had plenty of company when he appeared in court in Minneapolis.

Dozens of people who say Sean Meadows stole their financial security packed into a courtroom Wednesday for his first court appearance. The Eden Prairie man is accused in a Ponzi scheme that prosecutors say afforded him a luxurious lifestyle.

Richard and Teresa Breid traveled from Arizona for the court appearance. The Breids say they lost about $154,000. Teresa Breid says thrown a wrench into their retirement.

KMSP-TV (http://bit.ly/YDmlXR ) says Meadows was released on a long list of conditions after posting a $25,000 unsecured bond. Meadows will be represented by a public defender because he can't afford an attorney.

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Information from: KMSP-TV, http://www.myfox9.com

 
 

 

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