Earl Jones' victims get some of their money back

Earl Jones
(LA PRESSE)

About 125 victims of West Island fraudster Earl Jones can finally celebrate this holiday season. They will receive cheques in the coming days, 21 months after a settlement agreement with the Royal Bank.

Jones was found guilty in 2010 of defrauding 175 clients of $50-million dollars.

His brother Bev Gordon. who's now deceased and sister in-law, Francis, gave Jones almost a million dollars to invest, their life savings.

Neil Stein is one of the lawyers involved in the class action with the Royal Bank. He says cheques were sent out last Friday and should be received sometime this week.

Stein says there's one important lesson to be learned from the Earl Jones case, before you invest.

"First thing is to verify with the AMF (Autorités des marché financier) to make sure the person is a licensed person," he said.

Jones is serving an 11 year sentence.

 

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