Alleged swindler declared bankrupt

Alleged swindler Earl Jones was declared personally bankrupt Wednesday at a hearing that offered a glimpse into the erratic business practices of the fallen financial planner.

Alleged swindler Earl Jones was declared personally bankrupt Wednesday at a hearing that offered a glimpse into the erratic business practices of the fallen financial planner. The accused Ponzi scammer doesn’t appear to have much left for the horde of creditors who want his assets and there’s no sign of their missing money, the Quebec Superior Court hearing revealed. Bankruptcy proceedings have so far turned up: three heavily mortgaged condos, two cars, some furniture, and one golf bag. Jones is accused of bilking more than 100 clients out of up to $50 million. Wednesday’s hearing offered details of bizarre activities leading up to the crumbling of his financial empire earlier this summer. Petitioner Cristina Ross described how, on the advice of a relative, she hired Jones to administer the estate of her father after he passed away last October. The task largely consisted of paperwork — including preparing tax returns and an inventory of assets and liabilities — but not to endorse cheques or handle money. But the roughly eight-month period where Jones was involved was marred, she testified, by shoddy bookkeeping, forged documents and fraudulent loan agreements. Jones took on the responsibility of dealing with an investment firm and failed to pay off a $66,000 line of credit and disperse the remainder of the investment, Ross said.

Bankruptcy lawyer Neil Stein said Jones cannot remain silent much longer because he intends to subpoena him soon. Stein said outside the courtroom that Jones’ lack of involvement shows disrespect for his former clients. “It’s not normal, number one,” he said of Jones’ refusal to participate in the process. “Number two, he owes some explanation to the victims of his actions.”

Just Posted

WATCH: Central Albertans learn about farm life at Sunnybrook Farm Museum

Pioneer Days Festival in Red Deer Saturday-Sunday

Number of seniors who play bridge in Red Deer growing

Red Deer Bridge Club has been around for close to 60 years

PHOTOS: Buccaneers battle Wolfpack in AFL semifinal

The Central Alberta Buccaneers battled the Calgary Wolfpack in the Alberta Football… Continue reading

Raising awareness for Bikers Against Child Abuse

Second annual Raise A Ruckus Against Child Abuse was held at the Red Deer Radisson Hotel Saturday

Central Alberta Yogathon cancelled Saturday

Due to air quality concerns the fourth annual event will take place Sept. 15

VIDEO: Central Albertans learn about Icelandic poet at Stephansson House

Harvest Fair and Quilt Show hosted at Stephansson House in Spruce View Sunday

Trump says his White House counsel not a ‘RAT’ like Nixon’s

BRIDGEWATER, N.J. — President Donald Trump insisted Sunday that his White House… Continue reading

Wildfire moves closer to Glacier National Park’s scenic road

MISSOULA, Mont. — A wildfire in Montana’s Glacier National Park is forcing… Continue reading

Prime Minister Trudeau, Premier Couillard march in Montreal’s Pride parade

MONTREAL — Thousands of cheering spectators lined the streets of Montreal on… Continue reading

All eyes on Andrew Scheer as Conservative convention set for Halifax

OTTAWA — After a week of internal caucus squabbles, Conservative Leader Andrew… Continue reading

Canadians fear for relatives trapped amid flooding in Indian state of Kerala

In the wake of deadly flooding in the Indian state of Kerala,… Continue reading

Indonesia’s Lombok island jolted by multiple quakes

SEMBALUN, Indonesia — Strong earthquakes jolted the Indonesian tourist island of Lombok… Continue reading

Afghan president calls for Eid cease-fire, Taliban to reply

KABUL — Afghan President Ashraf Ghani has called for a conditional cease-fire… Continue reading

Montreal may have less influence after October provincial election

MONTREAL — When Coalition Avenir Quebec Leader Francois Legault recently dismissed the… Continue reading

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month