Sean Meadows Indicted for Fraud Charges Relating to Alleged $10 Million Scheme
Sean Meadows is accused of orchestrating a $10 million Ponzi scheme, according to an indictment issued by a federal grand jury.
The Peiffer Wolf securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.
Sean Meadows Accused of Victimizing More Than 50 Investors
Sean Meadows sold investments to more than 50 clients while informing them that their money would be used to invest in bonds, real estate, or other investments, according to the indictment. Overall, investors entrusted Meadows with over $10 million, according to the complaint.
Meadows encouraged investors to delve into their savings and retirement accounts to invest in the purported products that he offered by promising high rates of returns, but the investments were ultimately never made, according to the complaint. Meadows instead used the money brought in from new investors to make payments to existing investors, according to the indictment.
Sean Meadows Allegedly Used Investors’ Money to Support a Lavish Lifestyle
Meadows allegedly used the money he received from his clients to make payments to himself and his wife, purchase a vehicle, travel to Las Vegas, gambling, paying expenses on personal investment properties and credit card bills, and spending more than $100,000 at sexually themed entertainment businesses in Minnesota and Las Vegas, according to the indictment.
Securities Attorneys Investigating
The Peiffer Wolf securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Sean Meadows
Status: INVESTIGATED by Peiffer Wolf.
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