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Securities Lawsuit Against ING Financial

A lawsuit has been filed against a Washington state securities broker that claims she lost a couples’ life savings in a multimillion-dollar Ponzi scheme. The lawsuit alleges that broker Rhonda Breard “lost a considerable sum” of the couples money under the guise of a new investment opportunity. Bread had violated regulatory laws before, and was forced to quit the investment firm Smith Barney in 1991 following allegations of unauthorized trading, the Seattle Times reported. The lawsuit also accuses ING Financial Services of failing to supervise Bread and having a history of failing to supervise brokers.

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