The Seattle Times is reporting that Rhonda Breard appeared in court today was charged with one count of mail fraud and released from custody. According to the article, "Under the terms of her release, she is barred from liquidating her assets."
King5.com has posted this story.
KOMONews.com has posted this story.
The Seattle Times is reporting that Rhonda Breard, owner of Kirkland-based Breard Associates and Wealth Management, is charged with mail fraud in an alleged Ponzi scheme and is expected to appear Wednesday afternoon in U.S. District Court in Seattle. The so-called investment guru has been the under investigation for weeks.
Last week, Rhonda Breard’s boyfriend placed a 911 call after he found Breard had attempted suicide in her Renton home. Breard, also goes by the names Dean Tucker and Rhonda Lee Dean.
According to the Times, in 1991 Breard was forced to leave Smith Barney after allegations of unauthorized trading. She was later fined mored than $95,000 and had her license suspended.
State financial regulators say more than 20 investors appear to have lost more than $8 million.
U.S. Attorney Jenny Durkan, in a statement, said investigators are "still determining the extent of the fraud" and that the government intends to ask the court to freeze Breard's assets while the investigation continues.
The 10-page complaint charges Breard with a single count of mail fraud, which carries a sentence of up to 20 years in prison and a fine of up to $1 million.
The charges say the fraud was discovered when ING Financial Partners performed a surprise audit and found a locked cabinet in her office. Breard told the auditor it was her personal tax information, but when she opened it the auditor found "a number of client files that revealed Breard had not made investments with client money," the U.S. Attorney's Office said in a news release.
KING5.com ran this story on Breard's alleged mail fraud:
KOMONews.com posted this video online: