Influencing People for Life
"Financier" Earl Jones now 67, will likely, it is thought, celebrate his 68th birthday as a free man. He will doubtless have a lonely time of it; no members of his immediate or larger family, nor of his many friends and acquaintances will feel prepared by then to life a congratulatory glass with him. It's entirely possible he will live the remainder of his life estranged from everyone he once knew. And it's entirely likely that all of those people have no compassion whatever for him.
Why, after all, should they? He had none for them. This was a man with many friends, life-long friends and acquaintances, an extended family who held him in great esteem, trusted him and entrusted to him their life savings for investment, just as he encouraged them to do, to ensure that they reaped the benefits of his wise investment strategies as a professional in the field. Trouble was, he invested not one penny of the millions that people entrusted to him.
He was a much-admired figure, a colleague and friend, a hail-fellow-well-met type of man who had people eating of his larcenous hand. Everyone thought so highly of this sensitive, caring human being who went out of his way to express sympathy for the bereaved, for the health-impacted, for those who needed a little tender pampering.
Not only did he plunder the modest and sometimes generous estates of friends, acquaintances and family, but he appeared to have given no thought whatever to the future. How long could he continue to withdraw cash to furnish his lavish lifestyle from the investment accounts that swelled nicely, enticing him to greater withdrawals for his personal use?
In 1997 when records indicated he and his family earned $777,000 from the clients' trust account, he filed a tax return declaring $34,000 income. He lived very well indeed on that purportedly extremely modest income. No one, it seems, over the course of all those years, suspected, questioned, wondered ... so perhaps he felt he was entitled and would never be held to account.
He was at it a long, long time. He began his 'business' in 1979, and it took but three years before he began to diddle the funds entrusted to him. There was no defence for what he did as an economic predator on trusting people, now left with nothing at all for their retirement. He pleaded guilty to two charges of defrauding investors of $50.3-million.
Oddly enough, there is nothing left of all that money set aside in trust. Fifty million dollars simply evaporated. Hardly seems possible. But there it is, nothing to be found, to be set aside to help those who trusted this man face their now financially bleak futures. There is little justice for these people in the outcome of this dreary situation.
At his just-concluded trial, there were no friends sitting in the bleachers hoping the best for him. Not his brothers or sisters, his children or his long-time wife now filing for divorce. The judge sentenced this man to 11 years, but it's thought unlikely he'll be behind bars for more than perhaps a year.
He enjoyed quite the run while it lasted.
Why, after all, should they? He had none for them. This was a man with many friends, life-long friends and acquaintances, an extended family who held him in great esteem, trusted him and entrusted to him their life savings for investment, just as he encouraged them to do, to ensure that they reaped the benefits of his wise investment strategies as a professional in the field. Trouble was, he invested not one penny of the millions that people entrusted to him.
He was a much-admired figure, a colleague and friend, a hail-fellow-well-met type of man who had people eating of his larcenous hand. Everyone thought so highly of this sensitive, caring human being who went out of his way to express sympathy for the bereaved, for the health-impacted, for those who needed a little tender pampering.
Not only did he plunder the modest and sometimes generous estates of friends, acquaintances and family, but he appeared to have given no thought whatever to the future. How long could he continue to withdraw cash to furnish his lavish lifestyle from the investment accounts that swelled nicely, enticing him to greater withdrawals for his personal use?
In 1997 when records indicated he and his family earned $777,000 from the clients' trust account, he filed a tax return declaring $34,000 income. He lived very well indeed on that purportedly extremely modest income. No one, it seems, over the course of all those years, suspected, questioned, wondered ... so perhaps he felt he was entitled and would never be held to account.
He was at it a long, long time. He began his 'business' in 1979, and it took but three years before he began to diddle the funds entrusted to him. There was no defence for what he did as an economic predator on trusting people, now left with nothing at all for their retirement. He pleaded guilty to two charges of defrauding investors of $50.3-million.
Oddly enough, there is nothing left of all that money set aside in trust. Fifty million dollars simply evaporated. Hardly seems possible. But there it is, nothing to be found, to be set aside to help those who trusted this man face their now financially bleak futures. There is little justice for these people in the outcome of this dreary situation.
At his just-concluded trial, there were no friends sitting in the bleachers hoping the best for him. Not his brothers or sisters, his children or his long-time wife now filing for divorce. The judge sentenced this man to 11 years, but it's thought unlikely he'll be behind bars for more than perhaps a year.
He enjoyed quite the run while it lasted.
Labels: Economy, Human Relations, Justice
posted by Pieface | 7:17 PM
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