RBC knew of Jones account oddity, memo shows

CBC News

The Royal Bank of Canada knew disgraced Montreal financial adviser Earl Jones was using his personal account for business and passing it off as an in-trust account, The Fifth Estate has learned.

But the bank denies there were any indications that Jones was using his account inappropriately.

According to a confidential internal memo obtained by The Fifth Estate, Jones was warned "he could get himself in trouble because this is just a personal account in his name alone, the in trust does not mean anything …"

Read more: http://www.cbc.ca/canada/story/2010/02/04/earl-jones-bank-memo769.html#ixzz0ehFypsWY

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