Missing financier's investors fear worst

MONTREAL, July 13 (UPI) -- Abandoned investors of missing Canadian financial adviser Earl Jones say they have been ruined by what police suspect was an elaborate Ponzi scheme.

Gathering Sunday in Montreal to discuss what they can do, dozens of people who invested with Jones said they viewed him as a trusted family adviser and were coping with losing their life savings, The (Toronto) Globe and Mail reported.

One, Beverley Hamilton, 75, told the newspaper she may have lost her entire $300,000 fortune after police closed down Earl Jones Consultant and Administration Corp.

"I've been dealing with (Jones) going back all those years because he was so trustworthy," she said.

The whereabouts of Jones have been unknown since a joint investigation by Montreal police, the Royal Canadian Mounted Police and Quebec's securities regulators was initiated. They allege as much as $43 million in clients' money may have gone missing with Jones in what they described as a massive Ponzi scheme.