Rhonda Breard Admits to Stealing $11 Million From Clients

Disgraced investor Rhonda Breard loved living the life of a rich person. She had a big home on Lake Washington, 27 (!) cars and a ton of other toys like jet skis, snowmobiles and motorhomes that marked her as a successful businesswoman. There was just one problem: it wasn't her money.

In February, Breard abruptly shuttered her Kirkland office. Federal investigators were poking around, trying to figure out why her clients' bank accounts were shrinking while hers was growing.

Feeling the heat, Breard slit her wrists. But the suicide attempt didn't take. And now, with a judge's sentence looming, she's trying to negotiate a way to get out of prison early.

The Seattle Times got a hold of the contrite letter Breard submitted to the court this week. In it, she says that she was compelled to embezzle more than $11 million because she wanted "to be like every rich person she ever met."

"Whether you call it selfishness, materialism, wanting to appear more successful than I was ... It was wrong," she wrote. "Wrong from day one. Wrong from beginning to end."

The maximum sentence for the one count of mail fraud Breard is facing is 20 years in prison. Breard and her lawyer, however, are hoping the judge won't send her away for more than six. A period of time, she says, that would allow her to get out before her two youngest kids -- currently nine and 11 years old -- turn 18.

For more, check out Rhonda Breard, Investor Who Stole Client's Cash, Tried to Pawn Gold, Denied by Saintly Jewelry Store Owner.

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