facebook
twitter
search
search

Canadian Ponzi scheme suspect freed

July 28, 2009 at 8:52 PM

MONTREAL, July 28 (UPI) -- A judge in Montreal Tuesday set bail at $30,000 for Earl Jones, an investment adviser accused of swindling clients out of up to $50 million.

Jones, 60, was freed after a relative posted the bail, The Globe and Mail reported. He also was to turn in his passport and promise to stay in Quebec province.

Judge Manon Ouimet also ordered that "the accused shall not manage other people's money," prompting rebukes from among some of the victims of Jones's alleged Ponzi scheme who were in the courtroom.

"It's like a guy commits murder and (he's told) don't do it again," Charles Washer, a former friend who says he lost $125,000, later told the newspaper.

Jones, who had turned himself in to police Monday, faces four charges of fraud and four of theft.

Like Us on Facebook for more stories from UPI.com  
Topics: Earl Jones
Latest Headlines
Top Stories
Texas man killed in apparent alligator attack
Police arrest N.C. soldier with assault rifle headed to mall photo shoot
Kentucky clerk sued for refusing to issue same-sex marriage licenses
North Korean biochemical weapons researcher defects to Europe
Four accused in slave-labor trafficking ring on Ohio egg farm