A success for Earl Jones victims

Victims of the Earl Jones Ponzi scheme will have a greater chance of reclaiming money lost from the illicit scam. A ruling by the Quebec court cancels several contracts still connected to Jones and his victims. This allows the 77 victims to begin to discuss tax reimbursements with the Canada Revenue Agency and Revenue Quebec. Together they paid an estimated three million dollars in income taxes based off of invented interest income created by Jones.

Members of the committee fighting for the tax reimbursements are relieved by the court’s decision. One member said that refunds are expected to be processed within the next thirty days.

Last year Jones, a former West Island financial advisor, pleaded guilty to fraud and theft charges. He is currently serving eleven years in prison.