FORT LAUDERDALE, Fla., Sept. 8, 2010 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., representing defrauded investors nationwide and headed by former SEC Prosecutor, David R. Chase, announces that it is investigating potential arbitration claims against ING Financial Partners, Inc. for losses sustained by client victims of Rhonda Breard.
On August 14, 2010, Rhonda Breard was sentenced to 80 months in prison and three years of supervised release for mail fraud. According to records filed in the criminal case, Breard may have defrauded up to 42 individuals out of at least $12.1 million.
It is has been reported that Rhonda Breard's fraudulent scheme came to light during an unannounced audit by ING Financial Partners, the securities brokerage firm with which she was associated at the time. The audit is said to have revealed that Breard did not make investments with certain client monies as represented, but rather may have misappropriated those monies for her own personal use.
Securities brokerage firms, like ING Financial Partners, have an obligation under the securities laws to reasonably supervise the activities of their associated financial advisors. If ING Financial Partners failed to reasonably supervise the activities of Rhonda Breard while she was associated with it, it may be liable for the losses sustained by her clients.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors nationwide in cases against the major Wall Street Firms. The Firm's principal, David R. Chase, has been practicing for over 17 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a SEC Prosecutor. More about the firm is available on its website at: www.davidchaselaw.com.
If you or a family member were a customer of ING Financial Partners and suffered losses with Rhonda Breard and wish to discuss your legal rights, or you have information about this matter, please contact:
CONTACT: Law Office of David R. Chase, P.A. 888-337-8625