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Earl Jones is a financial planner from Montreal who has gone missing with at least $30-million, leaving his clients in a frantic stateJohn Morstad/The Globe and Mail

The bewildered family of a financial planner who appears to have bilked clients for millions of dollars is getting just a hint of sympathy from some of his victims.

The wife and daughters of Earl Jones, the Montreal investment manager who has disappeared along with $30-million to $50-million, probably feel betrayed too, several victims say.

But one important distinction remains, according to Ginny Nelles and others who have lost life savings. Unlike many victims, Maxine Jones and her daughters, Kimberly and Kristine, probably won't need charity to pay rent or eat.

Ms. Nelles, whose family knew Mr. Jones for 50 years and entrusted much of their savings to him, pointed out that Kristine Jones Velan, 34, married Corey Velan, son of the founder of the profitable Velan industrial manufacturing firm. The couple have three children.

Unlike many broke clients, the family will have money to hire lawyers and accountants to protect them from fallout, Ms. Nelles said.

"They have the Velans to support and take care of them," Ms. Nelles wrote in an e-mail. "They have the means to hire a PR agency and are not lining up at food banks for food."

Earl Jones's family released a statement on the weekend saying they feel devastated and deceived. The statement says his daughter and son-in-law are "also financially exposed and now fear they will never recover their funds."

Mr. Jones's wife and children said they were in the dark about Mr. Jones's activities but promised to co-operate with authorities.

Jerry Coughlan, a Boston banker whose mother, Mary, had entrusted her retirement money to Mr. Jones, said he carefully examined the family's short statement and wonders whether they know where Mr. Jones is hiding.

"I've considered it and the family was silent on the issue of whether they know where he is," Mr. Coughlan said. "They've got a moral obligation to plead with him in much stronger terms to come forward and co-operate."

Mr. Coughlan said Mr. Jones needs to step forward.

"Without Earl Jones, the forensic accounting will take months to complete," Mr. Coughlan said. "The longer he remains on the lam, the harder it will be to unravel this mess."

Mr. Coughlan said he believes the family's insistence they knew nothing about the missing money. Mr. Coughlan's mother knew Mr. Jones for 30 years and was caught "completely flat-footed," Mr. Coughlan said.

"Somebody commented it took them a week to say this. I'm inclined to give them a pass on that. They're obviously in as great or greater shock than the rest of us."

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