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A TV Finance Analyst accused Deceive investors The Justice Department said Monday that in millions of dollars, he was sentenced to five years in prison for spending several years on the run.
James Arthur McDonald Jr, 53.
“To his victims, (McDonald’s) seems to embody the American dream,” the prosecutor said in a sentencing memo. “But the appearance can be deceptive, and as the victims of (McDonald’s) learned, their trust is betrayed.”
Former CNBC Guest Financial Analyst James Arthur McDonald Jr. was sentenced to five years in prison. (FBI)
McDonald’s regularly worked as a financial analyst at CNBC, was arrested at his Florida home in June 2024, and was arrested at his Florida residence and extraditioned to California, where he is CEO and CEO and Chief Investment Officer Hercules Investments LLC and Index Strategy Advisors Inc. in Los Angeles.
McDonald’s also appeared to have terminated his previous phone and email account and told a person that he planned to “disappear.”
Prosecutors said McDonald’s took a dangerous short-term stance after the U.S. presidential election, losing tens of millions of dollars in money from Hercules clients after taking a dangerous short-term stance, effectively betting on the health of the U.S. economy after the U.S. presidential election. ”
He misrepresented how the funds were used and failed to disclose the previously continued “huge losses” Hercules.
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Authorities say James McDonald allegedly took measures to disappear before running. (FBI)
“He misappropriated most of the funds in various ways, including spending $174,610 at a Porsche dealership and transferring $109,512 to landlord rent at McDonald’s In Arcadiathe Ministry of Justice said.
Prosecutors said McDonald’s lost about $3 million in total in client funds.
McDonald’s allegedly sent a “false account statement, including a client who invested about $351,000, to the down payment of the home, and was informed by McDonald’s that much money had been lost and he never got all his investment back.”
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Total United States Securities and Exchange Commission “More than $5.1 million was raised from 23 investors and clients, misappropriating more than $2.9 million of those funds and paying early investors,” McDonald’s said.
McDonald’s was charged with securities fraud and issued a federal arrest warrant to McDonald’s in 2022.
Greg Norman of Fox News Digital contributed to the report.
