ING Quickly Settles Suit Over Thieving Broker

Law360, New York (June 23, 2010, 5:25 PM EDT) -- An ING Group investment unit has settled a suit claiming the company was “asleep at the switch” while a celebrity broker looted client accounts to buy herself cars, boats, houses and jewelry.

ING Financial Products Inc. and Seattle-area broker Rhonda Breard reached a settlement with a Renton, Wash., couple who said Breard stole hundreds of thousands from them, according to an order filed in the U.S. District Court for the Western District of Washington on Tuesday, just three months after the suit was filed.

Breard, a...
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