Alleged Eden Prairie Scammer, Sean Meadows, Admits Plundering $10M from Clients, Leaves Court Under Armed Guard; Peiffer Rosca Wolf Investment Fraud Attorneys Investigating

investor rights attorneysSean Meadows, 41, of Eden Prairie, Minnesota pleaded guilty on December 10 in federal court in St. Paul to alleged mail fraud, wire fraud, and money laundering, the coup de grâce in an alleged lengthy scheme reportedly perpetuated through his financial planning and asset management firm, Meadows Financial Group (MFG), according to reports from Minnesota.

Attorneys Joe Peiffer and Jason Kane are currently reviewing reports from the Land of Ten Thousand Lakes regarding how Meadows allegedly duped more than 50 people in several states out of at least $10 million.

Meadows Accused of Running Classic Ponzi Scheme

Meadows reportedly persuaded investors in Minnesota, Indiana, Arizona, and elsewhere to break open their retirement piggy banks, and other savings accounts, with the lure of the promise of high rates of returns — up to 10 percent annually, according to court reports from Minnesota currently under review from attorneys Joe Peiffer and Jason Kane.

But, the reports further detail, the investments were never made. Rather, from 2007 to April 2014, Meadows is accused of operating a classic Ponzi scheme, using money from new investors to make interest and principal repayments to existing investors.

Meadows allegedly used his clients’ money to pay expenses, invest in personal investment properties, pay personal credit card bills, make payments to his spouse, buy a vehicle, and lavish travel to Las Vegas, online gambling, and a tab of $100,000 on sex-oriented entertainment, according to reports from Minnesota.

Hearings in this case have brought out such raucous reactions from some of Meadows’ victims that armed security guards were needed to protect the defendant and his attorney as they left court after Wednesday’s plea.

Investment Recovery Lawyers Investigating

The Peiffer Rosca Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct. They are currently investigating Sean Meadows, and the possibility of assisting any investors with the recovery of any losses they may have suffered. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Any Investors who believe they lost money as a result of alleged misconduct regarding Sean Meadows alleged Ponzi scheme may contact the investment rights attorneys at Peiffer Rosca Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

phil korosec (1252 Posts)

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.