Quebec Minister says Ponzi scheme victims share blame for situation

Premier Jean Charest offers kinder words


Quebec Premier Jean Charest offered only sympathy this weekend, after one of his ministers implied that clients of the Canadian financial advisor Earl Jones—now charged with four counts each of fraud and theft—should take some blame for the situation. It is estimated that Jones’ investors were swindled of $30-$50 million. But Quebec Finance Minister Raymond Bachand said that he couldn’t do anything to help. He also blasted clients for not alerting authorities sooner when, when their monthly cheques from Jones stopped arriving. Authorities “did not even get a call. If you don’t complain to the police, it’s tough to help you,” Bachand charged.

On Sunday, the premier reacted, offering sympathy to investors who lost their savings. And although Charest did not make an official offer to compensate victims, he said the province would examine proposals to ease the tax burden of Jones’ clients. “It puts them in a terrible situation,” Charest acknowledged. “Because it’s money and it’s not violence, there’s sometimes a tendency not to see it as bad a crime as it really is on people’s lives.”

Canwest News Service

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Quebec Minister says Ponzi scheme victims share blame for situation

  1. There is definitely something to be said for personal responsibility. From the article in the recent edition of Maclean's, it is pretty clear that things started to seem a bit fishy for at least a few clients, months before the whole thing hit the fan. I think when it comes to situtations like this, many people stick their heads in the sand in the hopes that they are wrong. Not to mention, the tried and tested saying, if it seems to good to be true, it probably is, definitely comes into play. I disagree with blaming the victim, but at the same time, take some personal responsibility. The whole thing stinks.

  2. Something bad happened to me!!! Why hasn't the government done something already???


  3. I read the recent article, and I couldn't help but feel that maybe people shouldn't expect to make money simply because they possess a lot of money. Profit from work, sure. Profit from your horde? How is that in any way reasonable? I'm not saying these people deserve to have everything taken from them (and I'm sure not EVERYTHING was taken from them), but in the end their greed—and Earl Jones's greed—got the better of them (or, at least, got a lot of their money).