While some were sceptical, that scoop was confirmed in court last week when Earl Jones pled guilty and both prosecution and defence recommended a sentence of eleven years. The judge will formally confirm that sentence next month. In the meanwhile Earl Jones was hustled off to prison to await the falling hammer.
It's always nice when a lowly blogger scoops a national newspaper;
"In a surprise move, Jones and his lawyer chose to circumvent a lengthy trial and end the six-month saga that has left the formerly high-flying financial adviser a shadow of his once-dapper self. " The Montreal Gazette
The Montreal Gazette shouldn't be surprised, here's what I wrote last October;
October 5, 200
"Victims of Earl Jones will be disappointed that they won't get to see the fraudster face his accusers in a court of law.For those victimized by his crime, the eleven year sentence will unfortunately translate into a mere 700 days in prison. That's because Earl Jones will benefit from the current penal regulation that provides for parole after just one-sixth of a sentence, for first time offenders who have committed a non-violent crime.
Negotiations are underway for a plea agreement between Jeffrey Boro, Jones' lawyer (shown on the far left in the photo) and crown prosecutors....
....The crown is demanding a sentence of 12 years while Jones' lawyers are holding out for 10 years..." LINK
You can circle November 17, 2011 as the approximate date at which time he will be set free. The date takes into consideration that time served before sentencing counts as double. It appears that Mr. Jones will spend just one Christmas in jail.
At any rate his lawyer, Jeffrey Boro cleverly shifted the spotlight away from his client by casting aspersions on the banks as being either complicit or incompetent in their failure to properly monitor transactions in the various trust accounts that Mr. Jones ran.
If you are a bilked customer, don't get your hopes up pursuing the banks for restitution.
The banks aren't going to pay up voluntarily and a long, painful and extremely expensive judicial process is ahead if they want to pursue justice. Each case would also have be tried individually.
As for Mr. Boro playing the harp for poor little Earl Jones- I don't buy it and you shouldn't either.
I said it then and I'm repeating it again.
Mr. Jones has been paying his legal bills. Mr. Boro is not a legal aid lawyer and charges several hundred dollars per hour. The legal bill in this case likely ranges between $50,000 to $100,000.
Who's paying and where is the money coming from?
Until the question of how Mr. Jones paid for his defence is addressed, the nagging possibility of a secret stash of cash remains on the table.
There is a distinct possibility that Mr. Jones may enjoy his retirement a lot sooner and a lot better than his victims.