Richard and Bridget Jones
(revised Aug. 28, 1017)

Back in about 1983, I heard various patriots talking about an arbitrage program operated by a man from Illinois named Richard Jones. He was supposedly an acclaimed international financier who was tired of what the government and the "big boys" were doing and he wanted to help patriots. Jones' program involved taking people's money and successively rolling it over in some arbitrage scheme which allegedly had a very high rate of return. But this was not his only package; he also had a loan program whereby you could borrow money from some offshore banks at a very low interest rate, and the proceeds of this loan could then be invested in his arbitrage program. In a few years, the investment would pay off the original loan from the offshore bank and you would allegedly end up with a nice stash of cash. To get involved with his project, the dupe was required to invest an initial $4000.

Later, a new third program was started by Jones. He claimed that he had discovered some extremely rich Saudi Arabs who wanted to assist patriots with their battles against the government. These Saudis planned to distribute $10 million to every patriot who got involved with the program. The sale pitch was that you had to give Jones $5000 to show good faith, and then at a designated time, these Saudis would sale their yachts to Panama, and the investors in the program would be flown to Panama, where they would board the Saudis' yachts and be given $10 million each. Of course, the patriot investors had to use about 60% to 75% of the funds given to them to carry out worthy causes and battles. Needless to say, business was very brisk and some of the patriots who fell for the Jones program kept me regularly informed of the forthcoming date when the Saudis would give away these millions. But then again, thiat day always kept being extended month after month and year after year.

 Jones died in April, 1986, and his wife stepped into his shoes. But that summer, she was indicted; she went to trial and was convicted, but she fled before being sentenced. After being on the run for 2 years, she was apprehended and sentenced. The below extract is a portion of the decision in her appeal, which explains the facts of this case regarding the Jones loan program. Unfortunately, this decision mentions nothing about the "Saudi project" which apparently was not a part of the case against Bridget.

Extracts from United States v. Jones, 938 F.2d 737 (7th Cir. 1991):

     I have seen mimics of the Jones program since then, so scam artists continue to thrive. But what happened to the money in the Jones program?