Corporate & Securities Law

Rhonda Breard Update

By Steven Caruso

KING 5 News is reporting that ING Financial Partners is quietly looking for offers to settle with clients who were allegedly bilked out of some $8 million by former ING broker Rhonda Breard.

Breard is facing fraud charges by the Washington State Department of Financial Institutions and the Washington State Attorney. In February, Breard, who owns Breard Associates and Wealth Management in Kirkland, was fired from ING. She is scheduled to appear in federal court to face a preliminary hearing sometime next week.

Meanwhile, civil actions are just beginning for Breard. In one lawsuit, allegations also are being levied against ING Financial Partners for failing to properly supervise Breard.

According to a KING 5 News story, a second person, Colleen Brown, is cited for her alleged participation in Breard?s scheme. Brown worked in Breard?s office and is alleged to be the individual who sent out false monthly statements to Breard?s clients.

Full post as published by Representing Investors on March 26, 2010 (boomark / email).