Rhonda Breard, the former Seattle broker for ING Financial who made a name for herself by dispensing investment advice via television infomercials and seminars, will plead guilty to mail fraud. Breard is accused of stealing $9.4 million from her clients.
As reported April 2 by the Associated Press, prosecutors are seeking to have Breard forfeit several properties, cars, boats, watercraft and jewelry.
Breard has a shady past when it comes to her professional conduct. In 1991, she resigned from Smith Barney over allegations of unauthorized trading in clients’ accounts. One year later, she faced similar claims, according to records with the Financial Industry Regulatory Authority (FINRA), and eventually paid a $15,000 fine. In 1993, Breard settled an investor complaint for $74,493 while employed at Prudential Securities,
The Washington State Department of Financial Institutions, the Washington State Office of the Insurance Commissioner, and the FBI continue to investigate Breard’s alleged fraud.
If you are a current or former investor with Rhonda Breard and/or Breard & Associates and Wealth Management, we encourage you to Maddox Hargett & Caruso P.C. Your case may be eligible for recovery.