NSSC Blog: Before You Invest

Fraudster Friday: Earl Jones

Bertram Earl Jones ran a Ponzi scheme for decades in Quebec that cost his victims, including members of his own family, a reported $51.3 million Canadian.

In 1979 Jones began his own investment advising business. At the time he did not register with any securities regulator and he never would. Jones would go about offering investment advice and claim to sell securities unregistered for 30 years.

Fraudster Friday: Bre-X Ltd. Gold Fraud

The Bre-X Minerals Ltd. scandal has all the trappings of a Hollywood story. A fledging minerals company residing in the penny stocks reportedly strikes the largest gold claim in history tucked away in the jungles of Borneo. The gold claim was worth billions and sent Bre’X’s stock value soaring from pennies to hundreds of dollars. In the end it all turned to be fool’s gold, resulting in one the largest stocks scams and cases of mining fraud in Canadian history.

Question of the week: What are some common forms of investment fraud?

Last year during March we ran an extensive series on investment fraud, outlining common types of investment frauds, the red flags to watch for, and what to do if you think you are a victim of investment fraud. With March being Fraud Prevention Month, it’s the perfect time to deliver a quick review of investment fraud while also pointing you back to some of our older posts.