8.17.2010

Lane Powell Closes Breard Case with Favorable Outcome

Lane Powell Shareholder Ronald Friedman recently represented Lane Powell client, Rhonda Breard, an investment advisor from Kirkland, Wash.  Breard diverted more than $12 million of investor monies over a 10-year period, in a nationally publicized investment fraud case.  She faced a sentence of up to 20 years imprisonment upon her guilty plea to mail fraud.  At sentencing, United States District Judge Marsha Pechman imposed a sentence of 80 months (Federal Sentencing Guideline range of 97 – 121 months imprisonment), due to Ms. Breard’s remorse and extraordinary acceptance of responsibility.

As reported in the Seattle Times, at the time of sentencing, Lane Powell attorney, Ronald Friedman “didn’t downplay Breard’s crimes but reminded the court that ‘greed is part of the American way of life.”  He also reminded the court that what set Breard apart was her decision to “cooperate” and her “unwavering efforts to help identify victims,” which served to restore her “self-dignity.”  Friedman also told the court that “she wants to make restitution” and “she can’t do that behind bars.”