KPLU Local News
(2010-03-10)
Rhonda Breard walks past reporters as she is released from federal court in Seattle on Wednesday, March 10, 2010.
(AP Photo/Gene Johnson)
Emily Langlie with the US Attorney's office says the defendant appeared briefly before a federal judge to hear her charges and find out if she would be released.
"Ms Breard was released on personal recognizance bond with a number of conditions, including that she not dispose of any assets or make any financial transaction over 500-dollars," she said, adding that Breard's next court appearance is scheduled for March 30th.
Breard's lawyer says she is cooperating fully with authorities.
Prosecutors say the 47-year-old told the investors their money would be placed in financial and insurance products, but she instead used it for her own purposes. Some of the clients had invested with her for 20 years.
U.S. Attorney Jenny Durkan says investigators are still trying to determine the extent of the fraud. The state Department of Financial Institutions conducted a preliminary investigation and found as many as 25 investors could be out more than $8 million.
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