Courtroom packed for Ponzi scheme case

Published 10:33 am Thursday, August 21, 2014

MINNEAPOLIS — 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 said 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 said they lost about $154,000. Teresa Breid said it’s thrown a wrench into their retirement.

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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.