james mcdonald hercules investments biohow old is zak nilsson
Every defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt. Sign up for our newsletter to get the inside scoop on what traders are talking about delivered daily to your inbox. 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 new strain of COVID-19, historically elevated tech . Why Should White Guys Have All the Fun by Blair Walker. Indeed, Bunnell concedes he has no actual interest in participating in this litigation at all. ${cardName} not available for the seller you chose. 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. Public Information Officer TIMOTHY Z. MOSLEY, ET AL. 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 . 3.) 4.) Plaintiff presented nothing else of relevance in support of the motion. 1,230 Number of Organizations $4B Total Funding Amount 434 Number of Investors. James McDonald, CEO of Hercules Investments, told Yahoo Finance's "The First Trade" that the president and his advisors so far have paid close attention . Navin: If you could ask Jerome Powell a question what would it be? Esparza v. Campanario Entertainment LLC et al. I knew from the first time I stepped on the field at 11 years old that I wanted to be an NFL linebacker; and today at 49 years old, I still wish I could play in the NFL! Any litigation that stemmed from those losses would need to be disclosed if he went forward with the fund, according to the DOJ. In early 2021, McDonald solicited millions of dollars' worth of funds from investors in the form of a purported capital raise for Hercules but misrepresented how the funds would be used and failed to disclose the massive losses Hercules previously sustained. As stated in his opening brief, proposed intervenor admits to this Court that Bunnell seeks only to only [sic] oppose the Assignment Motion (Bunnell Mem. James McDonald, Hercules Investments James McDonald founded his most recent company, Hercules Investments , in 2019 after spending about two decades in the finance industry. Yet only 14.5% of the global market has been penetrated. 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. Lewiss story was intriguing to me because he was the first African American to reach that milestone. Unless you are aiming for simultaneous knocks on the door from the FBI, SEC and CFTC. According to McDonalds former romantic partner and business associate, D.J., after the SEC subpoenaed records from Hercules and subpoenaed McDonald for testimony, McDonald told D.J. . Decl. proof by the judgment creditor . Does he seek to join in plaintiffs claims against the defendants through the filing of a complaint in intervention? Houston, Texas, United States. 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. Full content visible, double tap to read brief content. When the market decline didnt occur, Hercules clients lost between $30 million and $40 million, according to the affidavit. 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. Chowthi said McDonald gave D.J. Plaintiff Semyon Ginzburgs Motion to Compel Compliance with Subpoena is DENIED. 4.) Previously, McDonald was of counsel to Gary, Williams, Parenti, Watson & Gary, P.L.LC. Lock Arcadia Man Charged with Securities Fraud for. There was a problem loading your book clubs. ciaran.mcevoy@usdoj.gov 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. James McDonald, CEO of Hercules Investments on CNBC this morning discussing investment opportunities in the technology industry and the new FAANGS. (See Ex Parte App. Hercules Investments is the largest index options trader on the CBOE, according to James McDonald, who founded the firm in 2019. keystyle mmc corp login; thomson reuters drafting assistant user guide. portville central school yearbooks; jennette mccurdy astroseek. DocketUpdated -- James A. McDonald, Jr. (Defendant): Name Suffix changed from JR. to Jr. DocketUpdated -- Hercules Investments, LLC (Defendant): Organization Name changed from HERCULES INVESTMENTS, LLC, a California limited liability company to Hercules Investments, LLC, DocketCase reassigned to Stanley Mosk Courthouse in Department 72 - Hon. (*******9709). woke up and found that McDonald was gone, leaving his car (with the keys inside) in D.J.s driveway. 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. ", Read more: 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. 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. I became fascinated by the story of how junk bonds via Mike Milken and others were used to revolutionize financing and M&A during the 90s. Wealth Management is part of the Informa Connect Division of Informa PLC. last spoke to McDonald on Nov. 18, when he admitted to taking clients money without investing it; McDonalds accounts for his phone and email address have since been terminated. 2023 Informa USA, Inc., All rights reserved, Target Needs to Make You Want to Spend Again, Six Reasons 2023 Is the Year of the 1031 Exchange, 10 Must Reads for CRE Investors Today (Feb. 28, 2023), Goldman Turns to Make-or-Break Unit as Solomon Put to Test, For Many Homebuyers, Its New Construction or Nothing, The 12 Best Business Books of 2022 for Advisors, The Most-Revealing Onboarding Questions Advisors Ask, Allowed HTML tags: . According to the complaint, McDonald also appears to have terminated his previous phone and email accounts and told one person that he planned to vanish.. Generally speaking, if markets crash, the gains in the volatility exposure will offset the losses in an equity portfolio. Track. Its clock-striking-midnight dealmaking time at the Justice Department. Hercules Capital started at outperform with $17.50 stock price target at Oppenheimer. 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. The complaint also charges McDonald with violating Section 206(4) of the Advisers Act and Rule 206(4)-8 thereunder, which prohibit certain transactions by investment advisers. Curtis A. Kineffective 06/14/2021; Reason: Inventory Transfer, DocketNotice of Case Reassignment; Filed by: Semyon Ginzburg (Plaintiff); As to: HERCULES INVESTMENTS, LLC, a California limited liability company (Defendant); James A. McDonald, JR. (Defendant), DocketNotice of Case Reassignment and Order for Plaintiff to Give Notice; Filed by: Clerk, DocketCase assigned to Hon. 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. Accordingly, to the extent that the post judgment enforcement proceedings in this case includes work on creditors ex parte application and motions, such work appears not to have been reasonable and necessary. ), Under CCP 708.120, the examination of a third party in a postjudgment proceeding is limited to exploring the third partys possession of the judgment debtors property or any debt owed the judgment debtor. (Fox Johns Lazar Pekin & Wexler, APC v. Superior Court (2013) 219 Cal.App.4th 1210, 1222; see also CCP 708.120(a) [Upon . Strategy Voice Associates, LLC 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. They are part of the Executive team within the C-Suite Department and their management level is C-Level. scott@strategyvoiceassociates.com, Internet Explorer presents a security risk. at 3.) Enhancements you chose aren't available for this seller. Pronunciation of james mcdonald with 2 audio pronunciations, 1 meaning, 5 translations, 12 sentences and more for james mcdonald. The founder of a Chicago megachurch has been fired as its leader. (Lindemann Decl. 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. And, also, relatedly and with the prospect of decades in prison attach, conspiracy and fraud. A .gov website belongs to an official government organization in the United States. McDonald said recent valuations in the technology sector exceeded levels in the days and weeks before the major market crashes of 1929, 1987, 2001, and 2008. Hercules Investments was awarded the WealthManagement.com 2020 Alternative Asset Manager of the year. Paperback $35.00 1 New from $35.00 This is the story of the James McDonald and the rise and fall of Hercules Investments. 2021-11-16, Los Angeles County Superior Courts | Property | A mere 5% allocation to its ITM call options would have sufficed for protection for an entire portfolio. Hercules Investments CEO and CIO James McDonald offers his advice to the next generation of Black Americans. Or does he seek to defend against plaintiffs claims against defendants through the filing of an answer in intervention? 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. The Securities and Exchange Commission (SEC) has filed a civil injunctive action against James Arthur McDonald, Jr. To stop this, we will need to lock down the economy again and this will inevitably trigger the beginning of a recession. ${cardName} unavailable for quantities greater than ${maxQuantity}. . According to Chowthi, D.J. James Arthur McDonald Jr., 50, formerly of Arcadia and who is believed to be in hiding, is charged with one count of securities fraud, a crime punishable by up to 20 years in federal prison. Given these circumstances, McDonald said, the S&P 500 could crash to 1,900 if investor sentiment suddenly turns negative. However, the Court file reflects that counsel for creditor has remotely appeared for each hearing since entry of the judgment. Read more about Hercules Capital's Fourth Quarter and Full-Year 2022 Results Life Sciences Technology SaaS Finance Sustainable + Renewable If you do not agree with these terms, then do not use our website and/or services. McDonald an avid football enthusiast stated that he planned to launch a publicly traded mutual fund under the ticker symbol NFLHX. The losses to Hercules clients and the potential for litigation related to those losses jeopardized the success of that fund because any litigation would have had to be publicly disclosed. But what really got my attention was the security that empowered Lewis to make history: junk bonds. 3.). Id rather my 72-year-old retired mom own a stable dividend stock right now than a FAANG! Notice of Change of Address or Other Contact Information, Certificate of Mailing for - CERTIFICATE OF MAILING FOR (HEARING ON MOTION FOR ORDER MOTION FOR AN ORDER AWARDING POST) OF 10/11/2022, Memorandum of Costs After Judgment, Acknowledgment of Credit, and Declaration of Accrued Interest, Notice - NOTICE OF WITHDRAWAL OF MOTION FOR AN ORDER AWARDING POSTJUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, Minute Order - MINUTE ORDER (HEARING ON MOTION FOR ORDER MOTION FOR AN ORDER AWARDING POST), Declaration - DECLARATION OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST- JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, Declaration - DECLARATION OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, Motion for Order - MOTION FOR ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, Declaration - DECLARATION OF SEMYON GINZBURG IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, Appeal - Notice Court Reporter to Prepare Appeal Transcript - APPEAL - NOTICE COURT REPORTER TO PREPARE APPEAL TRANSCRIPT NOA 4/29/22 B321138, Appeal - Ntc Designating Record of Appeal APP-003/010/103, Notice of Filing of Notice of Appeal (Unlimited Civil) - NOTICE OF FILING OF NOTICE OF APPEAL (UNLIMITED CIVIL) 614, Appeal - Notice of Appeal/Cross Appeal Filed, Minute Order - MINUTE ORDER (HEARING ON MOTION TO COMPEL COMPLIANCE WITH SUBPOENA IN AID O), Reply - REPLY PLAINTIFFS REPLY IN FURTHER SUPPORT OF MOTION TO COMPEL COMPLIANCE WITH SUBPOENA IN AID OF ENFORCEMENT OF JUDGMENT AND ENTRY OF PROTECTIVE ORDER TO ALLOW PRODUCTION OF ANY DOCUMENTS THAT. 4.). I became obsessed with making my own history through innovative use of a financial product. Ciaran McEvoy James McDonald, founder and CEO of Hercules Investments, has some advice for the next generation of Black Americans, "Go after what you want and be all that you can be." Tue, Feb 9. The best way to follow the money is to identify advancers versus decliners across as many industries, sub-sectors, regions, and asset classes as possible. The Judge overseeing this case is MARGARET MILLER BERNAL. Work Biography for James McDonald, Hercules Investments. 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
Finally, one place to get all the court documents we need. He speaks with Bloomberg's Romaine Bostick and Taylor Riggs on . James Arthur McDonald Jr. appears to be on the lam as he faces as much as 20 years in prison for allegedly defrauding investors, according to the Justice Department. 1.) McDonald: If you mean beating as in performing better in terms of absolute returns, then the answer is never. 2) and that [t]he insurance policy that generated the fund is referred to in the Settlement Agreement at 5. (Supp. Share sensitive information only on official, secure websites. Decl. (Brown Decl. 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. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. If Biden wins, he will make the necessary tough choices early on that will hammer the market: tax hikes, and sweeping lockdowns of the economy. 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. Plaintiff contends that the requested documents are pertinent to the efforts to collection on the judgment, including ascertaining available insurance and concerning the assets of judgment debtors Hercules Investments, LLC and James McDonald that are being held, obstructed, or concealed by third parties. (See CCP 685.070(a) [listing costs that creditor may claim].). 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,. That product for me ended up being index options. Today were the largest index options trader on the CBOE and the largest trader of Nasdaq 100 2022-08-16, California Courts Of Appeal | Other | Please try again. McDonald: Without question: Market Wizards Jack Schwager. BROWN NERI SMITH & KHAN LLP, A LIMITED LIABILITY PARTNERSHIP, AND LAW FIRM VS JAMES A. MCDONALD, ET AL. 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). On February 15, 2022, creditors motion for order assigning right to payment was denied. If Trump wins, his handling of the virus may result in its prolonged detrimental effect on a recovery. 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. Technology innovations are too powerful. A CNBC spokesperson told USA TODAY the network no longer allowed McDonald on the air as soon it found out he was under investigation. For this reason alone, the motion should be denied. options. 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. Case Number: *******9709 Hearing Date: May 3, 2022 Dept: 72. Even large-cap companies such as Disney and Exxon-Mobil Plaintiff moves to compel BNSKs compliance with the subpoena, which directed BNSK to produce or do the following: All drafts of settlement agreement with Ascot, and the final signed copy of the settlement agreement with Ascot. Now he's wanted on fraud charges. 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. James McDonald has been working as a Chief Executive Officer at Hercules Investments for 3 years. Step 2) Generate $12 billion in index options profits for growth seeking investors. Accordingly, the claim of 531.4 hours is insufficiently supported. McDonald will discuss why investors should be prepared for a looming 2021 stock market crash, after an unprecedented stock market surge since the March 2020 Covid-19-driven stock market lows. Our estimate is that stock prices need to come down 20-50% to reflect COVID-19-impacted U.S. economic activity. The stock market is a big auction house. Official websites use .gov 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. For all the foregoing reasons, the motion is DENIED. 5 & Ex. Both the Dow and the S&P 500 closed at record highs last week but have pared gains. Secure .gov websites use HTTPS Charles Canter will lead the litigation. Alternatively, for those willing to accept risk? Location South Ozone Park, New York, United States Work Chief Executive Officer @ Hercules Investments Chief Executive Officer and Chief Investment Officer @ Index Strategy Advisors A complaint contains allegations that a defendant has committed a crime. Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses. Could you describe what you mean by that? ), Pursuant to CCP 187 and 708.130, a judgment creditor may conduct postjudgment discovery on third parties regarding the location of assets no longer in the possession of the third party. (Yolanda's, Inc. v. Kahl & Goveia Commercial Real Estate (2017) 11 Cal.App.5th 509, 511, 514-15.) On 11/16/2021 HERCULES INVESTMENTS, LLC, filed a Contract - Business lawsuit against DANNY MICHAEL CORRAL,. 21STCV19709 in the Superior Court of California, County of Los Angeles. Don't miss this show today! You can lose money trading or investing in stocks and other instruments. The Dow Jones industrial average could drop to as low as 15,000, a roughly 50% drop from current levels, he added. 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.