CLEVELAND, Tenn. — A grand jury indictment has revealed that Andrew Charles Sneed, co-owner of a Cleveland, Tennessee assisted living facility, allegedly stole millions of dollars over six years—ultimately forcing the company into bankruptcy.
The Bradley County Grand Jury filed an 8-count indictment against Sneed, accusing him of embezzling funds from Remember Me Senior Care, a facility founded in 2018. Sneed was also involved in Lighthouse Land Holdings, LLC, which similarly filed for bankruptcy in February.
According to the indictment, Sneed racked up over $700,000 in unauthorized charges on the company’s credit card and issued himself $3 million in loans to support his separate venture, Aceco Travel. The remaining owners of Remember Me Senior Care later uncovered unauthorized debentures totaling approximately $10.9 million, allegedly executed by Sneed without their consent or knowledge.
This financial misconduct left the facility, which employs 81 staff members, in a state of collapse, according to bankruptcy filings.
Sneed now faces multiple felony charges and could face serious penalties if convicted.
