Friday, January 15, 2010

Earl Jones pleads guilty

This surprises me -- I wonder if there's a deal?

http://www.vancouversun.com/business/Tearful+disgraced+financier+Earl+Jones+enters+surprise+guilty+plea/2446442/story.html

MONTREAL — Disgraced financier Earl Jones pleaded guilty on Friday to several charges of defrauding pensioners of their life savings.

Looking haggard as he arrived at the Montreal courthouse in a plaid shirt, sweater vest and baggy jeans, Jones, free on $30,000 bail, was jeered by some of his alleged victims as he passed through security.

Jones showed up in court to enter his surprise plea on what was widely expected to be the third postponement of a date for him to do so.

The guilty plea comes a day after a deposition detailing Jones's version of events was filed in Quebec Superior Court — the first account he has offered of the complicated financial dealings that bilked his clients of $75 million worth of investments.

Jones faced four counts each of fraud and theft but faced the possibility of more charges being laid as the evidence of financial misdeeds mounted.

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