Two years after the Earl Jones massive Ponzi scheme was discovered, Jones’ former clients will hold a rally at the Royal Bank’s Beaconsfield branch at 12 noon on Saturday, July 16.
They will also make a public statement concerning what they claim to be mismanagement and ongoing delays of their class action suit.
The bank branch is located at 106 Beaurepaire Drive.
Earl Jones was arrested in July 2009 after his fraud, perpetrated through the Royal Bank Beaconsfield branch, was discovered.
He was sentenced in February 2010, the same month the victims launched a class action against the Royal Bank of Canada, which alleges willful blindness and negligence.
The case is before the Superior Court of Quebec.
Victims say they are thankful the case is before the court, and respect Justice Robert Mongeon’s efforts to move the case along, but argue that RBC’s objections and appeals run contrary to the bank’s public relations statements.
The bank claims the victims are not acting in good faith.
"To use the Royal Bank’s own words," said Kevin Curran, a member of the Victims Organizing Committee, "’Nothing could be further from the truth’.”
Curran said he wants people to remember that the first claim against the bank was filed two years ago.
He added that many victims acted in good faith without legal counsel to have the RBC compensate them for cheques Jones forged and cashed at the Beaconsfield branch.
The victims group says the RBC rejected each claim.
“Had the Royal Bank acted in good faith from the onset we may not be here today,” Curran said.
The Earl Jones Victims Organizing Committee says that internal Royal Bank memos entered as evidence in the lawsuit reveal RBC knew Jones was using his personal account as an In Trust account, contrary to bank regulations and that he could get himself in trouble.
The victims say RBC did nothing to stop Jones’ activities and 150, mostly elderly citizens, lost their life savings.
The victims and their families say they have not give up fighting for justice.
They have launched a letter campaign to Micheline Martin, RBC Quebec Region President.
They have also posted reviews of the Beaconsfield branch on Google Maps.
The victims will carry their message to the Beaconsfield branch on Saturday with a copy of their book, "Earl Jones and Royal Bank of Canada".
Copies have already been delivered to Prime Minister Harper and RBC CEO, Gordon Nixon.
Below are a few of the comments written on the bank’s Google maps page.
Comments:
“This is the branch that allowed the Earl Jones disaster to happen. On their watch, Jones was allowed to deposit his clients’ money all together into one big account that he used as his private piggy bank for years. Was no one watching or verifying these transactions?!”
“Do not use this bank! They turned a "blind eye" to Earl Jones and allowed him to withdraw his client’s money for his personal use. If they were more diligent, his fraud would have been exposed much earlier, and many people would not have lost their life savings!”
“Royal Bank allowed millions of dollars to be deposited into an "in trust" account that they claim did not exist. Where then, did the money go???”
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