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Financial adviser arrested in Canada
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09:02, July 28, 2009

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A financial adviser suspected of defrauding as much as 50 million Canadian dollars (45 million U.S. dollars) out of his clients, was arrested Monday in the Canadian city of Montreal.

Earl Jones was led out of an office tower and loaded into a police car by the Quebec provincial police.

Earlier this month, Quebec's securities regulator froze Jones' accounts, alleging between 30 million and 50 million Canadian dollars (27 million to 45 million U.S. dollars) are missing and that Jones was not qualified for the job.

The Montreal authorities revealed later that they were looking for Jones, after his clients reported they had not received interest cheques on their investments. Jones is alleged to have misappropriated funds from an estimated 50 alleged victims.


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