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Manhunt For Money Manager Stretches To Cape Cod

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Jul 17, 2009 6:44 am US/Eastern

Manhunt For Money Manager Stretches To Cape Cod

Reporting
Christina Hager

HYANNIS (WBZ) ―

Click to enlarge 1 of 1: The manhunt for Earl Jones has stretched to Cape Cod.
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A suspected Ponzi scheme has a Wellesley man sending out a plea to a shady investor named Earl Jones. "Earl, please turn yourself in," said Jerry Coughlan, whose mother lost a seven figure sum to the man.

The 77-year-old Canadian woman sold her late husband's business and two homes and gave all her money to Earl Jones. Her son says Jones sent bogus statements every month that showed high returns.

Last week, Jones changed the locks on his Montreal office and disappeared with his wife. He is suspected of swindling as much as $50 million from more than 150 victims.

Jones' disappearance has prompted a search from Canada to Cape Cod, where he has a daughter at an assisted living community for the mentally disabled. Jones was a trustee of Living Independently Forever, Inc. in Hyannis. Before he vanished, Jones abruptly resigned from his position there with virtually no explanation.

"So I think it's quite possible that he's either been on the Cape recently visiting his daughter, resigning from the assisted living place, or is in hiding here because he's lower profile," said Coughlan.

"I don't want retribution other than for him to come forward and face the music. And I hope he'll get 150 years in jail just like Bernard Madoff. That's what he deserves."

Coughlan has set up a website for victims of Earl Jones at SwindledbyEarlJones.com.

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