Another Business Man to scam the people of millions of dollars. Greed is a powerful thing in the world and many people get corrupt by it but to swindle millions of dollars is worse then anything because people worked hard for that money.
Financial adviser Earl Jones will appear in a Montreal court on Tuesday to face charges of fraud and theft.
Quebec's financial security regulator alleges Jones may have swindled at least 50 investors out of at least $30 million in a possible Ponzi scheme.
Jones, 67, turned himself in to provincial police on Monday after having disappeared for about three weeks. He was arrested at his lawyer's Montreal office.
"He was not very happy, nobody would be under the circumstances," said lawyer Jeffrey Boro, "and he was meeting this day with great trepidation."
Boro said his client faces multiple charges of fraud and theft and will be arraigned on Tuesday afternoon. The allegations against Jones have not been proved in court.
Montreal-resident Cherie Beluse told CBC News her mother lost hundreds of thousands of dollars while investing with Jones and doesn't hold out much hope that investors will see their money again.
If Jones' company is declared bankrupt, creditors would likely meet in mid-August when the value of any assets would be divulged.
source: cbc.ca/news/
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