To: Nostradameus who wrote (169670 ) 7/13/2009 11:27:40 PM From: Rocket Red Respond to of 312878 Search on for alleged Canadian Ponzi schemer Quebec's securities regulator has frozen the accounts of Montreal financial planner Bertram Earl Jones, who might have bilked investors out of $30-$50 million. By Tobi Cohen, THE CANADIAN PRESS July 13, 2009 MONTREAL - Bounced retirement home cheques. Tens of thousands in unpaid income taxes. Hundreds of thousands of dollars in possibly lost life savings. These are the stories and allegations that poured out of the mostly elderly men and women who packed a west Montreal hotel conference room Sunday to swap tales of feared loss and betrayal — and to get answers to their many questions. Joined by their frantic families, they're among some 50 people — most in Montreal but also elsewhere in Canada, the United States and Europe — who may have lost millions in what Quebec's securities regulator alleges has all the appearances of a Ponzi scheme. "I can't see, I can't hear much and I'm 94 so it's not the easiest thing in the world," said Nancy Jean Rollinson, who trusted her savings to the man authorities allege is behind it, Montreal financial planner Bertram Earl Jones. "He's the executor of my will ... I'm in a bad way," she said before the meeting. Andre Thiem said the whole thing comes as a shock as Jones had been "like an uncle" to him since 1965. His 74-year-old mother Ruth had "scrimped and saved every penny" during her 35 years with Avon and had some $200,000 invested with Jones, he said. * Tell us: How do you know if you can trust your money manager? "Now it's all gone so I'm just worried about her health," he said, noting she hasn't eaten or slept in days. Local and provincial police attended the meeting to gather statements but Montreal police spokesman Andre Leclerc said the police investigation in the matter is in its infancy. The whereabouts of Jones remains unknown. He has not been charged with any crime and the allegations against him have not been proven. However, the province's securities regulator froze his accounts and those of his company last week. The Autorité des marchés financiers peg the amount of money missing at between $30 million and $50 million and say Jones did not have proper credentials. Efforts are underway to figure out what happened to the money and to redistribute anything that might be left to the victims, said bankruptcy lawyer Neil Stein who attended the meeting. Stein represents one of the victims who have filed bankruptcy proceedings against Jones' company Earl Jones Consultant and Administration Corp.