We are actively representing victims of ING Financial and the firm's advisor, Rhonda Breard.  According to our investigation, Ms. Breard may have converted $8.31 million from ING clients for her own personal use and to maintain an extremely lavish lifestyle.  Fake, bogus statements were created for clients showing account balances that were inconsistent with the actual client account balances.  We believe these funds were converted for Ms. Breard's own personal use.   

According to our investigation, ING failed to reasonably supervise Ms. Breard.  Given her past customer complaints, regulatory investigations and terminations, she should have been placed on heightened supervision.  Prior to February 10, 2010, she had previously been suspended by FINRA and had multiple customer complaints.  For example, on May 26, 1993, Ms. Breard was alleged to have used unauthorized discretion in client accounts.  Eventually, she was fined $15,000 and censured by FINRA for these actions.  Her supervisor was also censured for failing to supervise her.  In 1993, a client alleged investment losses of $47,000.  Eventually, the claim was settled for $74,000.  She had previously resigned from Smith Barney over allegations related to unauthorized trading.  There were multiple red flags in her past that should have led to heightened supervision by ING. ING did not terminate her employment until the firm was told by a client of what she was doing.       

Additionally, her lavish lifestyle should have served as a major supervisory red flag.  According to our investigation she owns at least three estates (one Lake Washington property that is known as "The Garden of Eden" and another house in Redmond -- worth nearly $5 million). We have also determined that she has a fleet of snowmobiles, 5 cars and mutiple jet skies.  Given her production levels, this should have served as a major red flag to ING supervisors.

Ms. Breard was last seen on Feb. 10, the day that her Kirkland office was shuttered after she lost her broker agreement with ING Financial and the ability to act as a broker in nine states: Washington, Oregon, Michigan, Nevada, New Mexico, Arizona, North Carolina, West Virginia and Wyoming.  According to published reports, she may have attempted sucide on February 10.   

We have recovered millions against ING for funds that have been stolen by the firm's employee (see the link on the left entitled "Our Past ING Successes" or view the article at http://www.investmentfraud.pro/ingsettles.asp for details on our $2.9 million settlement against ING for a massive ponzi scheme run by Nevin Gillette, a former ING financial advisor).  To learn about recovering stolen funds against ING on a contingency fee basis, please contact our law firm in Chicago, Illinois at 312.332.4200 or visit www.InvestmentFraud.PRO for more information.