Please prove that you're human. Public Information Officer James Arthur McDonald Jr ., 50, who is believed to be in hiding, was charged with a single count of securities fraud, according to the U.S. Attorney's Office. Lines and paragraphs break automatically. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Pronunciation of james mcdonald with 2 audio pronunciations, 1 meaning, 5 translations, 12 sentences and more for james mcdonald. Either way, any such money in Mr. Browns account does not constitute a right to payment due or to become due to defendants which may be assigned pursuant to CCP 708.510. Charles Canter will lead the litigation. Hercules Investments is part of the Finance industry, and located in California, United States. VOLQ is even better because it can be used to protect gains and principal in tech holdings. that a third person has possession or control of property in which the judgment debtor has an interest or is indebted to the judgment debtor in an amount exceeding two hundred fifty dollars ($250), the court shall make an order directing the third person to appear before the court, or before a referee appointed by the court, at a time and place specified in the order, to answer concerning such property or debt]. Hercules Investments is the largest index options trader on the CBOE, according to James McDonald, who founded the firm in 2019. Lists Featuring This Company. My investigation has revealed that McDonalds fraudulent capital raise is part of a broader pattern of deceptive conduct, which includes the creation of false account statements for ISA clients, his ongoing misrepresentation to clients that ISA was a registered investment adviser even after he had terminated its registration, and even misleading statements about his educational background, according toFBI Special Agent Robert Chowthi, according to the criminal complaint. However, the motion was not properly served. That product for me ended up being index options. Indeed, such other claims may be substantial and the subject of an interpleader action in this Court. McDonald, who faces up to 20 years imprisonment if convicted, is believed to be in hiding, the U.S. Attorneys office said in a news release. Read more: BANK OF AMERICA: Buy these 26 cheap and fundamentally rock-solid stocks before the economic rebound sends them soaring in 2021. Unfortunately, according to the Justice Department and SEC, he didnt tell those new investors about all the money he lost on the election, nor precisely what he was going to do with it, as dropping $174K at a Porsche dealership and paying $110K to his landlord are not the same thing as launching a mutual fund. Third, although creditor incurred fees defending against proposed intervenor Justin Bunnells efforts to vacate the stipulated judgment, these fees are not related to the collection of judgment against debtors. James McDonald, the chief investment officer at Hercules Investments, told Business Insider that the news would be the catalyst for a protracted sell-off heading into the election.. A [Complaint in Interpleader].). For those willing to take risk and or those who dont want to liquidate their securities, we recommend buying volatility with a 10-15% allocation in their portfolio. In 2018, I earned Defensive MVP for my championship winning team and led the entire league in tackles. Approximately $109,512 was transferred to the landlord of a home McDonald was renting in Arcadia; and approximately $6,800 was spent on a website that sells designer menswear. McDonald will also be speaking at The Executives Club of Chicagos 2021 Annual Economic Outlook virtual event on January 14. On one morning in late October or early November 2021, D.J. Small businesses are still facing closures at a record rate, while the pandemic is expected to push a further 10-15 million people into poverty. The Hercules Fund aims to generate positive returns during times of rising and falling stock markets. James McDonald went from being CNBC market pundit, media darling and self-proclaimed options guru to a fugitive in hiding and on the run. "Risks here are as high or higher than potential gains, so it only makes sense to have a defense in place," McDonald concluded. Lastly, even if all or some of the referenced funds could be assigned pursuant to CCP 708.510, the Court would decline to issue an order so doing. Track. SEMYON GINZBURG VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. And, now that you, the Justice Department and the SEC mention it, a lot of his stories sound a bit hard to believe. A Carson man who was a central figure in an international fraud and money-laundering network that targeted $25 million through a variety of frauds including romance scams and elder A former executive at cinema subscription service MoviePass Inc. has been arrested on a federal grand jury indictment alleging he embezzled approximately $260,000 from MoviePass parent company to repay money An Orange County man was sentenced today to 54 months in federal prison for fraudulently obtaining $5 million in COVID-relief loans for his sham businesses, then used the money on Central District of California Indeed, Bunnell concedes he has no actual interest in participating in this litigation at all. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor. Further, creditor also seeks $55,477 in post-judgment interest. Please try again. Currently, S&P 500 price levels imply that the economy is stronger now and will be stronger in the short-term future than it was PRIOR to the beginning of the pandemic. He last appeared on the network in July 2021. Enhancements you chose aren't available for this seller. Being able to identify the turning points in sentiment is our secret to success. The stock market is a big auction house. options. Plaintiff Semyon Ginzburgs Motion to Compel Compliance with Subpoena is DENIED. Hercules Capital started at outperform with $17.50 stock price target at Oppenheimer. Pastor James MacDonald, of Harvest Bible Chapel, was given the boot last week by church elders after "highly inappropriate . . Counsel avers: The services rendered include communications attempting to enforce the settlement agreement and judgment, post judgment enforcement proceedings in this case, defending a separate action brought by Justin Bunnell, defending a separate interpleader brought by Ethan Brown, defending an Appeal brought by Justin Bunnell, and a whole host of other services. (Lindemann Decl. Navin: If you could ask Jerome Powell a question what would it be? Since McDonalds compensation for his investment advisory services primarily was based on a percentage of assets under his management typically 2% of a clients total assets held by Hercules the massive losses to Hercules clients significantly decreased the fees McDonald was entitled to collect. He was named a "rising star" advisor in 2012 by ETF.com, frequently appeared on CNBC as a market analyst, including on "Fast Money" and "The Exchange," and Hercules Investments won a. His son, James McDonald, plays in Major League Baseball. LOS ANGELES A former San Gabriel Valley resident who ran Los Angeles County-based investment companies and was a frequent guest on financial television news programs was charged today in a federal criminal complaint alleging he lied to investors. That seems not to be a proper basis for intervention under CCP 387, and Bunnell cites no meaningful authority for the proposition that he may intervene in an action for the limited purposes of participating in post-judgment proceedings or seeking to undermine the judgment already entered. 2 at 5.) [3] (See CCP 685.070(a) [listing costs that creditor may claim].). Now he's wanted on fraud charges. A complaint contains allegations that a defendant has committed a crime. A California advisor and frequent CNBC commentator is on the run after being charged withdefrauding clients of millions, according to the Department of Justiceand the Securities and Exchange Commission. Produce all communications (including e-mails, text messages, or messages from any messaging service) between Ethan Brown and Justin Bunnell. James Arthur McDonald Jr. faces as much as 20 years in federal prison, according to the Justice Department, which filed the charges in California federal court this week. McDonald allegedly also falsely represented to clients that ISA, his other firm, was a registered investment adviser, even though he had withdrawn ISA as a state-registered investment adviser firm in May 2019. The United States Securities and Exchange Commission subpoenaed McDonald to testify before it in November 2021, but without advance notice he failed to appear as required. Accounting and Auditing Enforcement Releases. That is fatal. 5.) James McDonald, Hercules Investments founder and CEO, said Friday that the news of President Donald Trump contracting COVID-19 could "completely change the direction of the campaign," and. ${cardName} unavailable for quantities greater than ${maxQuantity}. Customer Reviews, including Product Star Ratings help customers to learn more about the product and decide whether it is the right product for them.Learn more how customers reviews work on Amazon, [{"displayPrice":"$35.00","priceAmount":35.00,"currencySymbol":"$","integerValue":"35","decimalSeparator":".","fractionalValue":"00","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"pjKvPbaCzTFGz7tm%2F4plpNBIHaGsThf1FzF2RcINGAblEr2D%2BPhusKDR7sd54ZbiPtyEWzdH%2BRY9V0EgvA2dziukOK7HD1nO6KVW%2F23KTXYaw7l%2BpJAbpdYHQjsWc0qrKCFg5%2FoCSEsG%2FTMsMfFffg%3D%3D","locale":"en-US","buyingOptionType":"NEW"},{"displayPrice":"$35.00","priceAmount":35.00,"currencySymbol":"$","integerValue":"35","decimalSeparator":".","fractionalValue":"00","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":null,"locale":"en-US","buyingOptionType":"PICKUP"}]. James McDonald, CEO and Chief Investment Officer of Hercules Investments, a Los Angeles-based Registered Investment Advisor, is hosting a virtual event, 'Preparing Investment Portfolios for a . Second, the Court file reflects that the motions which creditor filed have been unsuccessful. (See Hood v. Gonzales (2019) 43 Cal.App.5th 57, 71 [interpleader is an equitable proceeding where the conflicting claims regarding the interpleaded funds are resolved]. The $900 billion stimulus package is necessary and was largely expected by investors but it won't be enough to limit the economic fallout of the pandemic, according to McDonald. And, also, relatedly and with the prospect of decades in prison attach, conspiracy and fraud. McDonald then used some of the funds from this capital raise for his own purposes, including $174,610 at a Porsche dealership, $109,512 for rent expensesand nearly $7,000 on designer menswear, according to the DOJ. McDonald was CEO of Hercules Investments LLC of Los Angeles and Index Strategy Advisors Inc. of Redondo Beach, and frequently appeared as an analyst on the CNBC financial TV news network,. Look at what happened in February when the virus became known. Led the design, development, and rollout of investment management, financial planning, and lending standards and practices to the bank's High Net Worth clients. I took full advantage of my 2nd chance and was blessed to play semi-pro football for 13 years. Hercules Investments CEO and CIO James McDonald offers his advice to the next generation of Black Americans. mike vernon royal household; are there snakes in gran canaria; shooting in laurel, md yesterday. (See 2/15/22 Minute Order at 2-3.) McDonald: Conservative investors should move to money market funds or treasuries and wait for the crash to happen. The Adviser grants to the Trust a license to use the names "Hercules Investments" and "Hercules Fund" (the "Name") as part of the name of any Fund during the term of this Agreement. The Securities and Exchange Commission today announced the filing of a civil injunctive action against James Arthur McDonald, Jr. and his SEC-registered investment adviser firm, Hercules Investments, LLC in connection with two fraudulent securities offerings. May 2021 - Present1 year 10 months. To the extent the requested documents may serve as evidence the settlement was intended to satisfy plaintiffs claims asserted in this action (or was somehow made in bad faith to cheat plaintiff), discovery for that purpose may be germane to plaintiffs claims of equitable entitlement to the funds deposited in the interpleader action and must be sought in connection therewith. From this, the Court is hard pressed to make any finding as to what, if any, payments are due to the judgment creditors for purposes of assignment to plaintiff. Pursuant to CCP 708.510, a judgment creditor may seek by way of noticed motion an order that the judgment debtor assign to the judgment creditor all or part of a right to payment due or to become due. (CCP 708.510(a).). To Chowthi, the evidence indicates that McDonald is currently intentionally concealing his whereabouts., https://www.wealthmanagement.com/sites/wealthmanagement.com/files/logos/Wealth-Management-Logo-white.png, Hercules Investments CEO/CIO James McDonald. Moreover, the claimed fees are insufficiently supported. The SEC's complaint alleges that McDonald raised over $3.6 million from investors between May 2019 and October 2021 for the stated purpose of trading securities through an investment vehicle called the Index Strategy Advisors Fund, and that McDonald used less than half those funds for trading and did not engage in any trading with the funds for long stretches of time. James McDonald has been working as a Chief Executive Officer at Hercules Investments for 3 years. First, the judgment was entered on December 9, 2021. Eligible for Return, Refund or Replacement within 30 days of receipt. Anyone with information about McDonalds whereabouts is encouraged to call the FBIs Los Angeles Field Office at (310) 477-6565. 3.). Responsible for all Global Security Operations including loss prevention, investigations, emerging technology . Case Number: *******9709 Hearing Date: February 15, 2022 Dept: 72. On its face, the number of hours appears to be without merit. Produce all communications (including e-mails, text messages, or messages from any messaging service) between Hercules Investments, LLC and Justin Bunnell. In response, McDonald began soliciting funds for a purported capital raise for the company; as an avid football enthusiast, he claimed to be setting up a publicly traded mutual fund with the ticker symbol of NFLHX, but according to the Justice Department, this was a ruse concocted as the advisorcontinued to notinform clients about the seismic losses the firm suffered. Hercules Investments was awarded the WealthManagement.com 2020 Alternative Asset Manager of the year. As part of the capital raise, McDonald obtained $675,000 in investment funds from one victim group on March 9, 2021. Clients began asking Hercules employees about losses in their accounts, and since McDonalds compensation primarily was based on a percentage of his clients assets (typically around 2% ofAUM at Hercules), thelosses meant steep declines in McDonalds own earnings, according to the DOJ. However, the Court file reflects that counsel for creditor has remotely appeared for each hearing since entry of the judgment. CCP 685.080(b) states: The notice of motion shall be served on the judgment debtor. James McDonald - Latest News and breaking headlines - Benzinga Contribute SPY 412.68 0.04% QQQ 306.75 0.74% BTC/USD 22088.42 1.612% DIA 341.15 0.41% GLD 172.58 0.06% TLT 104.02 0.23% James. (Brown Decl. All e-mails, letters, notices, or any other communication between Ethan Brown and any representative or lawyer for Ascot. Navin: What are you recommending for conservative investors? are slashing up to 20% of their workforce. James Macdonald will celebrate 62nd birthday on a Tuesday 4th of October 2022. McDonald: I would ask him whether he believes that the Fed was successful in bolstering the economic stability of the people who needed it most (i.e. Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses. ) or https:// means youve safely connected to the .gov website. The Judge overseeing this case is MARGARET MILLER BERNAL. James McDonald went from being CNBC market pundit, media darling and self-proclaimed options guru to a fugitive in hiding and on the run. XOM Have a question about Government Services? (Lindemann Decl. A .gov website belongs to an official government organization in the United States. This seriously cut in to his fee income, and CNBC appearance feesoh, yes, he was still bloviating on television about on how people should invest for more than a year-and-a-half after the most spectacular wrong call of his careerapparently dont cover the Porsches or the rent, so he decided to raise some more. On February 15, 2022, creditors motion for order assigning right to payment was denied. Plaintiff Semyon Ginzburgs Motion for Order Assigning Right to Payment Due to Satisfy Judgment is DENIED. Even assuming that $1.45 million has been received by Mr. Browns account from Herculess insurer, it is either (1) Herculess money (which happens to be held its former counsel) or (2) money set aside to pay defense costs to Herculess counsel or claims by investors claiming losses. A lock ( According to the complaint, McDonald falsely represented that investor funds would be used to expand Hercules's business, lied about the firm's financial condition, and failed to disclose that he had promised Hercules clients that the firm would repay earlier losses. Secure .gov websites use HTTPS Suite 1200 The S&P 500 could be headed for a drop of up to 48%, according to James McDonald, the CEO and chief investment officer of Hercules Investments. Paperback $35.00 1 New from $35.00 This is the story of the James McDonald and the rise and fall of Hercules Investments. Proposed Intervenor Justin Bunnells Ex Parte Application for an Order Granting Leave to Intervene or, in the Alternative, for an Order Advancing the March 10, 2022 Hearing Date on Justin Bunnells Pending Noticed Motion for an Order Granting Leave to Intervene is DENIED. as well as other partner offers and accept our, Visit Business Insider's homepage for more stories, Bank of America unveils its top stock pick in each of the 11 S&P 500 sectors and explains why they're poised to dominate in the year ahead, BANK OF AMERICA: Buy these 26 cheap and fundamentally rock-solid stocks before the economic rebound sends them soaring in 2021, Registration on or use of this site constitutes acceptance of our. Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses [press release]He appeared as a financial expert on TV. Ruth Ann Kwan in Department 72 Stanley Mosk Courthouse, DocketComplaint; Filed by: Semyon Ginzburg (Plaintiff); As to: HERCULES INVESTMENTS, LLC, a California limited liability company (Defendant); James A. McDonald, JR. (Defendant), DocketCivil Case Cover Sheet; Filed by: Semyon Ginzburg (Plaintiff); As to: HERCULES INVESTMENTS, LLC, a California limited liability company (Defendant); James A. McDonald, JR. (Defendant), DocketSummons on Complaint; Issued and Filed by: Semyon Ginzburg (Plaintiff); As to: HERCULES INVESTMENTS, LLC, a California limited liability company (Defendant); James A. McDonald, JR. (Defendant), DocketNotice of Case Assignment - Unlimited Civil Case; Filed by: Clerk, Case Number: *******9709 Hearing Date: October 11, 2022 Dept: 72, MOTION FOR POST-JUDGMENT COSTS AND ATTORNEY FEES INCURRED IN ENFORCING JUDGMENT, Case: Semyon Ginzburg v. Hercules Investments, LLC et al. But what really got my attention was the security that empowered Lewis to make history: junk bonds. V.P., Director of Strategic Initiatives, BBVA Compass, Houston, TX, 2002- 2006 Direct report to the CEO of the $12 Billion AUM Wealth Management Group (WMG). ciaran.mcevoy@usdoj.gov Its clock-striking-midnight dealmaking time at the Justice Department. This item can be returned in its original condition for a full refund or replacement within 30 days of receipt. Esparza v. Campanario Entertainment LLC et al. Hercules Investments has named Loreal McDonald as corporate counsel and interim chief operating officer. Things are escalating quickly for the folks behind StraightPath Venture Partners. That the motions which creditor filed have been unsuccessful February 15, 2022:! Condition for a full Refund or Replacement within 30 days of receipt committed a crime is... Story of the judgment debtor investment funds from one victim group on March 9, 2021 James. 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