Fraud victims reject $12 million offer from RBC
July 12, 2011
Total Loss:
$40 Million
The victims of a massive banking fraud in Montreal have rejected a $12.5 million offer from the Royal Bank of Canada, dismissing the proposed settlement as "a joke" and just "pennies on the dollar."
The victims of disgraced financier Earl Jones are seeking $40 million in a class-action suit for the bank's alleged negligence in its handling of his accounts. Jones was arrested in 2009 and sentenced to 11 years in prison earlier this year on charges stemming from a lengthy, multi-million dollar Ponzi scheme.
Source:
CTV News Canada
Posted in:
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