Ponzi scheme suspect's family express 'grief, shame'

The wife and daughters of Earl Jones have broken their silence, saying they are shocked by the allegations against the Montreal financial planner.

"Over the past days since becoming aware of the situation, we too have experienced a wide range of emotions, from anger to despair and disillusionment," said the statement from his wife, Maxine, and two daughters.

"The Earl Jones we knew was a loving husband, devoted father and grandfather and a respected member of the community," the statement said."The Earl Jones who has been revealed in recent days is a man we can scarcely believe exists."

Jones, 67, who is suspected of stealing as much as $50 million from his clients, is nowhere to be found. He has not been charged, and the allegations against him have not been proven in court.

"We are anxious for Earl to come forward and provide an explanation," they write.

The statement also said that Earl's daughter and her husband were financially exposed and now fear that they will never recover their funds.

"We hope that you will recognize the sense of shock, grief, shame and outrage that we are experiencing."

Earl Jones's brother, Bevan Jones, said he's not surprised the self-styled financial adviser took money from his own daughter.

"We were hurt along with many, many, many friends of ours, very bad," said Jones.

He saidthe family's letter was the first he heard fromEarl Jones's wife since the story hit the media nearly two weeks ago. Jones said he didnt try contacting his sister-in-law or nieces because he said he didnt want to "interfere or rub salt in the wound."

"I'm glad she did say something, because it's been too long. We haven't heard from the family," saidJones, adding he has no idea where Earl Jones could be at this point.

Investors react to family's statement

Some of Earl Jones's investors put out a joint statement on Monday, reacting to the family's statement.

"We also believed that Earlwas adevoted father and respected community member. This is why so many people fell prey to his actions. [Jones's investors] feel the same way as the family shocked, shamed and outraged," they said.

But Jones's investors also said they dont believe Jones left his family in the same financial dire straits as many of them now find themselves.

"His family will probably not be seeking the number to Sun Youth [charity] to sustain themselves with basic food and medication needs. His family will probably not be losing sleep over where they may have to live next month. There is one fundamental difference here, while everyone involved must learn to accept the outright deceit and betrayal, it is not Earl Jones's family that was left with virtually no financial means to face the future."

Brook Hamilton, who said his mother invested close to $350,000 with Jones, said he wasn't impressed with the Jones family's statement.

"I understand the family has contracted a rather large and prestigious PR firm to handle the communication and it looks a little slick to me from this position," he said.