Attorney: Rhonda Breard is 'a mini-Madoff'
KIRKLAND, Wash. -- Clients know her as Rhonda Breard, their financial planner. But one local attorney sees Breard as "a mini-Madoff."
Breard, a Kirkland broker, has been under investigation since millions of her clients' dollars went missing. She has not been arrested or charged, but attorney Steve Berman believes "she's 100-percent guilty."
Berman says he is so incensed that he's drafting a class-action lawsuit against Breard.
"There is no question that she is guilty and she will go to jail, mark my words," said Berman of Hagens Berman Sobol Shapiro, LLP.
Berman knows all about funny money and Ponzi schemes. He's representing clients trying to get their money back from the godfather of Ponzi schemes, Bernie Madoff.
"I think she is a mini-Madoff. They were both doing the same thing, thinking they could get away with it," said Berman.
The attorney says there is evidence against local broker Breard. Her clients' statements claimed their money was accounted for, but their accounts didn't really exist.
Soon after clients started asking questions, Breard tried to kill herself. Her attorney says she is cooperating with investigators.
Berman is convinced Breard pocketed the missing money for a lavish lifestyle.
"We know she entertained her girlfriends, flew them all down to Las Vegas, paid for airfare, clothing, nightclubs and who knows what else?" he said.
Gordon Overbye's life savings of $856,000 disappeared after he invested it with Breard.
"This is my retirement. This is all off my retirement," he said.
The state Department of Financial Institution says more than 20 clients are missing more than $8 million.
On Monday Berman plans to file a class action lawsuit against Breard and ING Financial Services, the broker dealer she used to buy and sell securities.
"They had a duty to supervise their representative, and I don't believe they did any supervision," said Berman.
An ING spokesperson refused to comment on the allegations, but said it was ING who brought Breard's case to the attention of the appropriate authorities.
KOMO News has tried repeatedly to reach Breard for comment without success.
Breard, a Kirkland broker, has been under investigation since millions of her clients' dollars went missing. She has not been arrested or charged, but attorney Steve Berman believes "she's 100-percent guilty."
Berman says he is so incensed that he's drafting a class-action lawsuit against Breard.
"There is no question that she is guilty and she will go to jail, mark my words," said Berman of Hagens Berman Sobol Shapiro, LLP.
Berman knows all about funny money and Ponzi schemes. He's representing clients trying to get their money back from the godfather of Ponzi schemes, Bernie Madoff.
"I think she is a mini-Madoff. They were both doing the same thing, thinking they could get away with it," said Berman.
The attorney says there is evidence against local broker Breard. Her clients' statements claimed their money was accounted for, but their accounts didn't really exist.
Soon after clients started asking questions, Breard tried to kill herself. Her attorney says she is cooperating with investigators.
Berman is convinced Breard pocketed the missing money for a lavish lifestyle.
"We know she entertained her girlfriends, flew them all down to Las Vegas, paid for airfare, clothing, nightclubs and who knows what else?" he said.
Gordon Overbye's life savings of $856,000 disappeared after he invested it with Breard.
"This is my retirement. This is all off my retirement," he said.
The state Department of Financial Institution says more than 20 clients are missing more than $8 million.
On Monday Berman plans to file a class action lawsuit against Breard and ING Financial Services, the broker dealer she used to buy and sell securities.
"They had a duty to supervise their representative, and I don't believe they did any supervision," said Berman.
An ING spokesperson refused to comment on the allegations, but said it was ING who brought Breard's case to the attention of the appropriate authorities.
KOMO News has tried repeatedly to reach Breard for comment without success.