Posted at: 08/28/2013 10:10 PM
Updated at: 08/29/2013 7:48 AM
By: Leslie Dyste
Select Comfort Founder Jailed in Minneapolis
Photo: MGN Online
The creator of the Sleep Number bed is behind bars in Minneapolis Wednesday.
ABC News reports Bob Walker's arrest has nothing to do with Select Comfort Mattress Company. Instead it deals with Bixby Energy Systems; he's the CEO of the company.
According to the report, Walker violated terms of release. The government says he treated Bixby as if it were his own personal asset.
He's accused of defrauding almost 1,800 shareholders of around $40 million.