Earl Jones Case Study Essay

Case Study:

Canadian Broadcasting Corporation (Writer), (February, 5th 2012). Earl Jones: In Trust [Television series episode]. The Fifth Estate (Producer), the Fifth Estate. Toronto, Ontario: CBC

Over the span of two decades Earl Jones a financial advisor in Montreal orchestrated a Ponzi scheme, costing his investors $50 million. The investors that Jones scammed included widows, elderly people and even his own brother, Bevan. The fifth estate conducts an interview with Bevan as well as investigating deeper into Jones life. Investigations show a paper trail going as far back as 1986, no major activity was occurring as of yet but oddly enough Jones was using his business account for personal expenses under the false presence of administrative expenses (CBC, 2012).

Growing up Jones was a member of a tightly knit community, his parents struggled to keep up with the expenses and raise children. As a child, Earl Jones had big aspirations dreaming of a better life where he was somebody important. Despite having dropped out of university Earl was fortunate enough to still get a job, shortly thereafter Jones opened his own business as a financial advisor, regardless of the fact that he didn 't have relevant experience. Widows were some of the first people Jones

Jones tried and played his cards right by using the system to his advantage and only going to small suburban branches, however red flags should still have risen at the suspicious activity occurring in the accounts. Jones clients believed that their money was being held in a trust account, in which Jones was handling money on behalf of his clients yet he held all of the money in his personal accounts this is something the bank was aware of. The fifth estate obtained documents of a bank memo proving that they were aware of Jones using his personal account for business, the matter was dropped (CBC,