Fugitive CNBC Pundit Arrested By FBI

- July 12, 2024
0 views 3 min

For some Democrats, President Biden's recent press conference, while managing to exceed some expectations, did little to salvage his reelection campaign. His performance, marred by numerous gaffes, has led to calls for a change in leadership.

Rep. (D-Conn.), the ranking Democrat on the House Intelligence Committee, voiced his concerns following Biden's unscripted and often awkward interaction with the press. Himes emphasized the risk of relying on an 81-year-old president prone to off-script mishaps.

“Imagine that three months from now, we get another performance like there was in the debate.

The hunt is over…

After a nearly three-year search, the FBI has arrested former CNBC pundit and investment banker James Arthur McDonald Jr.

McDonald Jr., 52, was arrested over the weekend in Port Orchard, Washington, according to the United States .

McDonald was identified by the DOJ as the CEO and chief investment officer of two L.A. area companies, Hercules Investments LLC and Index Strategy Advisors Inc.

McDonald has been on the run since November 2021 when he failed to appear before the United States Securities and Exchange Commission to testify regarding accusations of defrauding investors, according to The Hill.

Charging documents indicate McDonald lost tens of millions of dollars belonging to clients of Hercules after he adopted 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 Hill has more:

McDonald predicted that the COVID-19 pandemic and the election would lead to a major selloffs that would cause the stock market to drop. When the decline never came, his clients lost between $30 and $40 million, the DOJ alleges.

In early 2021, he solicited millions of dollars' worth of investor funds to raise capital for Hercules, but allegedly “misrepresented how the funds would be used and failed to disclose the massive losses Hercules previously sustained,” the DOJ said.

As part of those efforts, he raised about $675,000 in investment funds from one victim group and allegedly used large portions of the cash for himself, spending more than $174,000 at a Porsche dealership, transferring about $110,000 to his landlord for the home he was renting in Arcadia and about $6,800 at a website that sells designer menswear.

He also allegedly sent clients falsified account statements, including to one man who invested more than $350,000. When the client went to withdraw some of his money in order to make a down payment on a home, he was informed by McDonald that much of the money had been lost. The client never got his full investment back, the DOJ said.

If convicted of all charges, McDonald Jr. could face a maximum sentence of 20 years in federal prison for each securities fraud and wire fraud count, up to 10 years in federal prison for each count related to using investor funds for his own benefit and up to five years in federal prison for one count of investment adviser fraud.

This is a story. Please check back for updates.

READ NEXT: Terror Group Threatens Our Boys…Enemy Regime Gets Rewarded

0 views
American Liberty News
For some Democrats, President Biden's recent press conference, while managing to

Search

follow us

subscribe

Trending Stories

American Liberty News
Welcome To The New American Liberty News!
Dear Loyal Readers of American Liberty News, We
American Liberty News
Enemy Spies Knew Of Biden’s Senility Before Most Americans: Report
ANALYSIS – Joe Biden’s frailty and senility isn’t

Security

0 views
American Liberty News

US Allies Preparing For Looming War In Space

THURSDAY PDB – Ariane 6 launch returns in-house space access to Europe’s armed
- July 11, 2024
0 views
American Liberty News

Enemy Spies Knew Of Biden’s Senility Before Most Americans: Report

ANALYSIS – Joe Biden’s frailty and senility isn’t news to those of
- July 11, 2024
0 views
American Liberty News

Trump Is Right – NATO Needs To Lead On Defending Europe

WEDNESDAY PDB – And NATO is listening. Trump ally warns Eastern Europe
- July 10, 2024
0 views
American Liberty News

Report: Biden Skipped Crucial Meeting Because Of Early Bedtime

The Wall Street Journal reported Wednesday that President Joe Biden declined an
- July 10, 2024

Foreign Affairs

0 views
American Liberty News

Report: Biden Skipped Crucial Meeting Because Of Early Bedtime

The Wall Street Journal reported Wednesday that President Joe Biden declined an
- July 10, 2024
0 views
American Liberty News

The French Revolution: Part Deux

French Prime Minister Gabriel Attal announced his resignation following the victory of
- July 10, 2024
0 views
American Liberty News

Columbia University Addresses Antisemitic Texts From Administrators

Columbia University has finally addressed the issue surrounding the three deans who
- July 10, 2024
0 views
American Liberty News

BBC Host Calls For Trump’s Assassination, Blames Critics For Lack Of Humor

BBC presenter David Aaronovitch has come under fire for urging President Biden
- July 9, 2024

Business & economics

0 views
American Liberty News
0 views
American Liberty News

Congress Investigating Whether Woke Activists Broke Federal Tax Law With ESG Investment Schemes

A key congressional committee is now investigating whether a liberal activist scheme to
- June 25, 2024
0 views
American Liberty News

Elizabeth Warren For Fairness?

Today, U.S. Senator Elizabeth Warren, also known as the fake Indian, will speak
- June 17, 2024
0 views
American Liberty News

Citizens Sue City Over Scheme To Pay Race Reparations

A group of Evanston, Illinois, residents are suing their city government over a
- June 7, 2024

heath & science

0 views
American Liberty News

Award-Winning Actress Shelley Duvall Passes Away At 75

Award-winning actress Shelley Duvall has died. The longtime movie star and producer known
- July 11, 2024
0 views
American Liberty News

Former Oklahoma Senator Jim Inhofe Dead At 89

Former Oklahoma Senator Jim Inhofe, a towering figure in conservative politics, passed away
- July 10, 2024
0 views
American Liberty News

Renowned Neurologist’s Frequent White House Visits Raise Alarms

Much of the country believes that Joe Biden does not have the mental
- July 10, 2024
0 views
American Liberty News

Joe Biden Is The Real ‘Cheap Fake’ – Entire Presidency A Lie

ANALYSIS – Cheap fake president. Despite the outrageous spin and deception, by the
- July 9, 2024

American Liberty Arms

Hunter Biden Resubmits Motion For New Trial On Gun Charges

Via Bearing Arms by Tom Knighton Hunter Biden is currently a convicted felon.  No, I

FBI: Gun-Controlled California Leads Nation In ‘Active Shooter Incidents’

Via Bearing Arms By Tom Knighton Gun control advocates often claim that various regulations are essential

Top 10 States For Gun Sales

A report in USA Today about the number of privately-owned guns in the U.S. reveals in the

Michigan Lawmakers Propose AR-15 As Official State Gun

By Doug Howlett The Truth About Guns In a move that expectedly has some anti-gunners

At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.

 

We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.

American Liberty News ©2022

Evolution Digital Media  |   1900 Reston Metro Plz  |  Suite 600  |  Reston, VA 20190