McDonald was the CEO of Los Angeles County-based Hercules Investments and Index Strategy Advisors Inc., prosecutors said. Suite 1200 The perceived future harm of the new COVID-19 strain in the UK will introduce additional risk to markets, according to McDonald. Eligible for Return, Refund or Replacement within 30 days of receipt. 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. LOS ANGELES, July 23, 2020 /PRNewswire/ -- Hercules Investments, a Los Angeles based Registered Investment Advisor and Independent Wealth Advisor, has announced the hire of Loreal McDonald as . Please use a different way to share. 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]. Number 2 is market valuations. 5 & Ex. TIMOTHY Z. MOSLEY, ET AL. Alternatively, for those willing to accept risk? Actually, he didnt just assume it: He bet his clients money rather heavily on it, and lost them upwards of $40 million doing so. When investors really want something they are willing to pay up, and stock prices rise. 2-3, 5 & Ex. The SEC's investigation was conducted by David S. Brown, Carol Kim, and Matthew O. Koop and was supervised by Marc J. Blau in the Los Angeles Regional Office. scott@strategyvoiceassociates.com, Internet Explorer presents a security risk. Cancellation and Refund Policy, Privacy Policy, and ${cardName} not available for the seller you chose. Explore Our Venture Lending Portfolio | Hercules Capital Whether you're a curious investor or a successful start-up seeking VC financing, Hercules Capital is for you. 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. To add the following enhancements to your purchase, choose a different seller. Charles Canter will lead the litigation. 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. Produce all communications (including e-mails, text messages, or messages from any messaging service) between Hercules Investments, LLC and Justin Bunnell. 2021-02-22, Los Angeles County Superior Courts | Contract | Why? In fairness to James McDonald, television is a much more welcoming venue than an SEC hearing room or courthouse. Full content visible, double tap to read brief content. Lines and paragraphs break automatically. The SEC appreciates the assistance of the U.S. Attorney's Office, the Federal Bureau of Investigation, and the Internal Revenue Service-Criminal Investigation Division. Yet it's not his only passion he had a 12-year semi-pro football career and also won the 2018 Southern California Heavyweight Boxing Tournament. Arcadia Man Charged with Securities Fraud for. woke up and found that McDonald was gone, leaving his car (with the keys inside) in D.J.s driveway. Lock Because in addition to unemployed, he can also now call himself whistleblower.. at 9), which the Court already addressed and denied (2/15/22 Minute Order). "The idea that tech stocks should keep rising in the face of the Covid-induced headwinds was an idea rooted in historic optimism," he said. Updated -- James A. McDonald, Jr. (Defendant): Name Suffix changed from JR. to Jr. Navin: What are you recommending for conservative investors? Led the design, development, and rollout of investment management, financial planning, and lending standards and practices to the bank's High Net Worth clients. The case status is Other. Turns out I am as good as I thought I was. Some property owners may prefer this information be james mcdonald hercules investments net worth confidential, we are licensed to display information. Decl. 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. Produce all communications (including e-mails, text messages, or messages from any messaging service) between James McDonald and Justin Bunnell. This of course is impossible, therefore equity valuations must eventually reflect economic plausibility. Navin: Growth has been beating value for a number of years now. On February 10, 2022, plaintiff served a deposition subpoena seeking the production of business records on Ethan Brown, custodian of records for Brown Neri Smith & Khan LLP (BNSK). The founder of a Chicago megachurch has been fired as its leader. Service shall be made personally or by mail. The proof of service indicates that debtors were served the motion by mail. Please try again. Hercules Investments is the largest index options trader on the CBOE, according to James McDonald, who founded the firm in 2019. That is fatal. No credit card required. However, there is no proof of service indicating that the supporting declaration, amended declaration, or proposed order were served on debtors. That's especially true since recent progress on vaccines led many investors to expect a smooth return to normal life following their rollout, he said. (whos only identified as suchin the complaint) a laptop and cell phone to secretly communicate with McDonald, as well as a thumb drive containing information about which clients were owed money. U.S. Attorney's Office, Central District of California, Environmental Crimes and Community Safety, Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses, Carson Man Sentenced to More Than 11 Years in Prison for Role in International Conspiracy to Launder Money Taken from Fraud Victims, Former MoviePass Executive Arrested on Indictment Alleging He Embezzled $260,000 from Employer to Repay Coachella Debt, Irvine Man Sentenced to 4 Years in Federal Prison for Fraudulently Obtaining $5 Million in COVID Loans He Spent on Sports Cars, Arcadia Man Charged With Securities Fraud For Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses. Moreover, the claimed fees are insufficiently supported. The Securities and Exchange Commission (SEC) has filed a civil injunctive action against James Arthur McDonald, Jr. Hercules Investments Chief Executive Officer James McDonald expects additional declines in tech stocks and the broader equity market. Los Angeles, California 90012. The SEC alleges that McDonald commingled the investor funds with Hercules assets and his personal assets, and used $440,000 of those funds for personal expenses, including to pay his personal credit card bills. A lock ( Navin: What book or books would you recommend for someone interested in learning about markets? HERCULES INVESTMENTS, LLC, ET AL. [USA Today]. Or, you know, anywhere, really. We work hard to protect your security and privacy. James McDonald is a 25-year veteran of the investment industry and was named one of America's top 10 investment advisors by ETF.com in 2012. When investors DONT want to own an asset, they are willing to lower their price to sell it, causing markets to fall. Please prove that you're human. In an initial declaration, counsel for plaintiff confusingly and without providing context, corroboration, or support states: The settlement agreement underlying the Judgment, and communication, refers to the fact that the payment will come from the Ascot insurance policy. (Lindemann Decl. James McDonald, Hercules Investments James McDonald founded his most recent company, Hercules Investments , in 2019 after spending about two decades in the finance industry. Instead, McDonald spent more than $1 million of the money on his own expenses, and used more than $2 million on Ponzi-like payments to Hercules clients and business expenses for the firm, according to the SEC complaint against him. Second, between February and October 2021, McDonald offered and sold equity investments in Hercules itself, raising $1.5 million from two types of investors: one non-client group and two existing individual Hercules clients. The FBI and IRS Criminal Investigation investigated this matter. How To Invest In Bitcoin By Two Harvard Minds. (*******9709). Hercules Investments has named Loreal McDonald as corporate counsel and interim chief operating officer. 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. VS DANNY MICHAEL CORRAL, ET AL. Plaintiff and judgment creditor Semyon Ginzburgs Motion for an Order Awarding Post-Judgment Costs and Attorney Fees Incurred in Enforcing Judgment is DENIED. ${cardName} unavailable for quantities greater than ${maxQuantity}. In late 2020, McDonald lost tens of millions of dollars of Hercules client money after adopting a risky short position that effectively bet against the health of the United States economy in the aftermath of the U.S. presidential election. LOS ANGELES Award-winning derivatives investment management executive James A. McDonald, Jr. today announced that he has launched Hercules Investments LLC, a Los Angeles-based. I took full advantage of my 2nd chance and was blessed to play semi-pro football for 13 years. Access your favorite topics in a personalized feed while you're on the go. Hercules Investments is the firm I founded solely to achieve these goals. Hercules investments is an award-winning portfolio manager serving growth-focused individual. [2] That means there's a whole lot of opportunity for both streaming service providers and their investors. 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. Technology innovations are too powerful. 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. 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. For this reason alone, the motion should be denied. 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. 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. Neither seems likely, which perhaps explains proposed intervenors unwillingness to file a proposed complaint or answer in intervention as required by statute. 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