The Montreal Ponzi Schemer Gets Justice

Earl Jones gets an 11-year sentence for orchestrating his massive fraud scheme.

Victims of the Ponzi schemer had hoped he would get the maximum 14-year sentence but a deal reached between prosecutors and his attorneys agreed on the 11-year sentence. Since he can apply for parole after serving one-sixth of his sentence that means he could be released from prison after 22 months. Many victims who have seen their future destroyed wonder how such an evil fraudster could possibly be spared the maximum sentence allowed by the law.

Earl Jones pleaded guilty last month to running a pyramid scheme that started in 1982 and included at least 158 victims, including several close friends and relatives. The Quebec court Judge Helene Morin was extremely harsh on Earl Jones in her remarks Monday. “Some victims call him a liar, a demon, a parasite, a snake, a financial predator and a social sociopath, as he promised them that their money was not only to be safe with him but growing.”

Many people had trusted Earl Jones but perhaps the most devastating case was that of his brother, Bevan.

Jones’ brother said he never wanted to speak to him again and would never forgive him.
“None of us will ever be the same,” said Bevan Jones who, along with his wife Frances Gordon, was fleeced out of $1 million.
“You work all your life, you sell your printing company and now we live on our government pension,” Bevan Jones said.
“Everything we saved up for and worked for is gone, ruined, by this little … I can’t say the word.”

The judge made sure that Earl Jones understood that his victims are not just suffering financially: she said all have suffered from insomnia and many have seen their health rapidly deteriorate. Some who took pride in never having taken medication are now on anti-depressants.

Jones has been shunned not only by his friends and relatives, but his wife Maxine has also filed for divorce. Jones once lived in the lap of luxury, but recently, he lived anonymously in a suburban rooming house and was penniless apart from a government pension.

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