West Island Financial Planner Missing, Suspected Of Misappropriating Millions -- CTV
Quebec's investment securities regulator has frozen the assets of Earl Jones, a West Island financial planner based in Pointe Claire who has suddenly disappeared and ceased all communication with his clients.
The Autorité des Marchés Financiers (AMF) released a statement Friday afternoon saying the situation has all the appearances of a Ponzi scheme, and that and Jones is suspected of misappropriating between $30 million and $50 million.
The AMF also confirmed to CTV News that despite managing people's money for years, Jones was never a certified or registered financial planner.
Montreal police launched an investigation after receiving a number of calls from concerned investors.
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More News On This Suspected Fraud
Assets of vanished Montreal investment adviser frozen -- CBC News
MIA: Earl Jones of Earl Jones Consultant and Administration Corp. -- The Montreal Gazette
Authorities freeze accounts of missing Montreal financial planner -- Canadian Press
West Island financial planner may be behind Ponzi scheme -- CJAD