VS DANNY MICHAEL CORRAL, ET AL. McDonald ran two Los Angeles County-based investment companies: Hercules Investments, based in downtown Los Angeles, and Index Strategy Advisors (ISA), based in Redondo Beach, serving as. low income communities, small businesses). (See CCP 685.070(a) [listing costs that creditor may claim].). James McDonald, CEO and Chief Investment Officer of Hercules Investments, will serve as Portfolio Manager of the Hercules Fund. Or, you know, anywhere, really. 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. 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. Lindemann Decl. "Monday's selling pressure isn't a sign that a major market crash is imminent, but crashes do begin with shifts in short-term sentiment like we have seen in recent sessions," McDonald said. His son, James McDonald, plays in Major League Baseball. Produce all communications (including e-mails, text messages, or messages from any messaging service) between Hercules Investments, LLC and Justin Bunnell. (Lindemann Decl. November's blockbuster jobs report. No, Brent Kovars mother didnt have an artificial intelligence supercomputer in her basement, the SEC says. James McDonald went from being CNBC market pundit, media darling and self-proclaimed options guru to a fugitive in hiding and on the run. 3.) Creditor seeks fees for 531.4 hours incurred at an hourly rate of $500 for collecting and enforcing the settlement agreement and judgment between August 17, 2021 and September 1, 2022. Hercules Investments Chief Executive Officer James McDonald expects additional declines in tech stocks and the broader equity market. James McDonald works as a Chief Executive Officer at Hercules Investments, which is a Finance company with an estimated 6 employees; and founded in 2019. The stated reason for seeking ex parte relief is the purported irreparable harm and immediate danger of this Court granting plaintiffs Motion for Assignment without first determining whether Bunnell may intervene in this action and be heard as to that motion. Service shall be made personally or by mail. The proof of service indicates that debtors were served the motion by mail. 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.. Navin: You've named the issues facing the stock market as "a 3-headed monster." By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Enhancements you chose aren't available for this seller. 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. Greater Los Angeles Area Financial Services Companies. Could you describe what you mean by that? ), While BNSK may have previously been in possession of funds that may be used to satisfy the judgment in plaintiffs favor entered in this action, the settlement funds from Herculess insurer have now been deposited into a court account, the allocation of which will be determined in an interpleader action. Track. XOM 1.) Search our database of over 100 million company and executive profiles. But my excellence at trading didnt happen overnight. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor. Attempting to bolster that showing, plaintiffs counsel states in a supplemental declaration that there is a gross settlement fund consist[ing] of $1,450,000 that is being held by Ethan Brown (Lindemann Supp. Neither seems likely, which perhaps explains proposed intervenors unwillingness to file a proposed complaint or answer in intervention as required by statute. 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. Alternatively, for those willing to accept risk? If the stock market falls by say 20-40 percent, you can expect a vol instrument such as UVXY or VOLQ to gain 100-200% so purchasing long-dated call options on those vehicles could deliver gains of 10X the gains on the instrument itself. 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. Ciaran McEvoy Decl. A new strain of COVID-19, historically elevated tech . "As we see now, eventually reality strikes and changes things overnight. ${cardName} not available for the seller you chose. Please use a different way to share. 312 North Spring Street Ironically, however, pertinent information about any right to payment comes not from the moving party, but from the response to the motion by Ethan J. 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. 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. 2, 5 & Ex. On one morning in late October or early November 2021, D.J. *Free 10 Piece Chicken McNuggets valid 1x thru 2/28/22 for first time app users at participating McDonald's. According to the DOJ, McDonalds troubles began after taking risky short positions in 2020, betting that the U.S. economy, and the stock market,would crater due to the COVID-19 pandemic and the 2020 presidential election. Covid-19 continues to spread rapidly and the vaccine rollout has been slower-than-expected, which is a worrisome combination for the economy and the stock market., The discussion will be streamed via Zoom at this link: https://us02web.zoom.us/webinar/register/WN_guvDkdmgQcy4-HcSuTnb1Q. ) or https:// means youve safely connected to the .gov website. 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. 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. And, also, relatedly and with the prospect of decades in prison attach, conspiracy and fraud. judy norton children; court ordered community service california 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. Being able to identify the turning points in sentiment is our secret to success. On May 3, 2022, creditors motion to compel compliance with subpoena was denied. However, the motion was not properly served. Why is this public record being published online? 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. Produce all communications (including e-mails, text messages, or messages from any messaging service) between Ethan Brown and Justin Bunnell. 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. Accordingly, it cannot be said that the fees creditor incurred in defending against Bunnells ex parte application to vacate the stipulated judgment or motion to intervene were reasonable or necessary to the enforcement of the judgment. Read more about Hercules Capital's Fourth Quarter and Full-Year 2022 Results Life Sciences Technology SaaS Finance Sustainable + Renewable A nonparty shall petition the court for leave to intervene by noticed motion or ex parte application. 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. However, interest is not the type of cost that can be claimed in this motion. Anyone with information about McDonalds whereabouts is encouraged to call the FBIs Los Angeles Field Office at (310) 477-6565. Of course, like most of the people brought on by CNBC to explain how the market will react to certain things (like talking heads on any subject on any 24-hour news channel), being generally right about those things was not a booking requirement. (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]. VOLQ is even better because it can be used to protect gains and principal in tech holdings. Instead, the SEC alleges, McDonald misappropriated more than $1 million of the funds for personal expenses, including luxury vehicles and paying rent on his home, and misappropriated more than $2 million of the funds for Ponzi-like payments, payments to his Hercules' investment adviser clients and expenses associated with operating Hercules. Turns out I am as good as I thought I was. James M Macdonald is Pres:Workplace Investing at Fidelity Investments. As part of the capital raise, McDonald obtained $675,000 in investment funds from one victim group on March 9, 2021. The opposite is true of course. Hercules Investments is the firm I founded solely to achieve these goals. Yet only 14.5% of the global market has been penetrated. Unless you are aiming for simultaneous knocks on the door from the FBI, SEC and CFTC. Case Number: *******9709 Hearing Date: February 15, 2022 Dept: 72. According to Chowthi, D.J. Secure .gov websites use HTTPS This of course is impossible, therefore equity valuations must eventually reflect economic plausibility. In 2018, I earned Defensive MVP for my championship winning team and led the entire league in tackles. In this virtual event, McDonald shares: - Why the markets are too optimistic about the Covid-19 vaccine Official websites use .gov A [Complaint in Interpleader].). SEMYON GINZBURG VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. 2-3, 5 & Ex. See James M Macdonald's compensation, career history, education, & memberships. 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. To stop this, we will need to lock down the economy again and this will inevitably trigger the beginning of a recession. 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. 2021-02-22, Los Angeles County Superior Courts | Contract | And the best part of all, documents in their CrowdSourced Library are FREE! A North Richmond native, McDonald, his wife Mary Ann and their two daughters moved to Hercules in 1984. Navin: Growth has been beating value for a number of years now. 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. Markets have always crashed in the weeks and months following 52-week highs, and it could take only a change in sentiment to trigger a large sell-off, the investment chief said. Number 8860726. at 9), which the Court already addressed and denied (2/15/22 Minute Order). For more information, please visit: https://hercules-investments.com/hercules-public/index.html, Media Contact 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 stock market is a big auction house. Access your favorite topics in a personalized feed while you're on the go. All e-mails, letters, notices, or any other communication between Ethan Brown and any representative or lawyer for Ascot. (Brown Decl. Moreover, the claimed fees are insufficiently supported. (See Ex Parte App. Federal prosecutors charged McDonald with one count of. Plaintiff presented nothing else of relevance in support of the motion. Proposed intervenor failed to include a copy of the proposed complaint in intervention or answer in intervention, as required by CCP 387(c). Curtis A. Kineffective 06/14/2021; Reason: Inventory Transfer 06/14/2021 McDonald was the CEO and chief investment officer for two registered companies; Hercules Investments, based in Los Angeles, and Index Strategy Advisors, which was based in Redondo Beach. Lewiss story was intriguing to me because he was the first African American to reach that milestone. Having denied the Motion for Assignment, the Court finds no exigency, irreparable harm, or immediate danger that would justify the need to address Bunnells request for relief on an ex parte basis. 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. Prior to that he was CIO of Vishnu Wealth Management and CEO of Index Strategy Advisors. On February 15, 2022, creditors motion for order assigning right to payment was denied. Indeed, such other claims may be substantial and the subject of an interpleader action in this Court. James Arthur McDonald Jr., 50, ran two Los Angeles-based investment firms called Hercules Investments and Index Strategy Advisors. ), Case Number: *******9709 Hearing Date: March 10, 2022 Dept: 72. According to an affidavit filed with the complaint, McDonald frequently appeared as an analyst on the CNBC financial TV news network and was the CEO and chief investment officer of two companies: Hercules Investments LLC, based in downtown Los Angeles, and Index Strategy Advisors Inc. (ISA), based in Redondo Beach. 1718 Harriman Ln Redondo Beach, CA 90278 . 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! Navin: So, you're expecting a big sell-off how big? As soon as we found out he was under investigation, we no longer allowed him on our air, said a CNBC spokesperson. Apr. Moreover, creditor claims $149 for gas and mileage. Help others learn more about this product by uploading a video! Case Number: *******9709 Hearing Date: May 3, 2022 Dept: 72. A .gov website belongs to an official government organization in the United States. When facing allegations such as these, its best not to be seen on TV. Too many people and firms over-complicate these basic truths. Miraculously in 2006, I found an orthopedic surgeon who fixed my knee and I got back on the field at the age of 35. Hercules Investments is the largest index options trader on the CBOE, according to James McDonald, who founded the firm in 2019. edgewater hotel haunted; can uk consultant doctors work in usa; is spitfire a compliment My plan to write a $2-$3 billion dollar check for a franchise? After transferring to and graduating from Harvard, I set a career path with a firm intent to make a positive meaningful impact in the industry and personally to culminate my business career with the purchase of an NFL team for myself. 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,. Explore our venture lending portfolio here. 4.) 1996-2023, Amazon.com, Inc. or its affiliates, Select a location to see product availability. - The dangers of too much fiscal and monetary stimulus Some property owners may prefer this information be james mcdonald hercules investments net worth confidential, we are licensed to display information. (Lindemann Decl. (See 2/15/22 Minute Order at 2-3.) That product for me ended up being index options. Share sensitive information only on official, secure websites. options. But some clients discovered Hercules plight, and confronted McDonald on a phone call in March 2021, while McDonald continued to send ISA clients false account statements, according to Chowthis complaint. 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. If you're an investor, you'd want to look much deeper into each of these situations. Navin: What indicators do you follow to read the markets? 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. Led the design, development, and rollout of investment management, financial planning, and lending standards and practices to the bank's High Net Worth clients. As explained by Mr. Brown: [Defendant] Hercules [Investments, LLC] retained BNSK [i.e., Browns firm] for legal representation relating to insurance coverage and a Settlement Agreement was reached. McDonald could not be reached for comment. Hercules Investments CIO James McDonald on CNBC The Exchange McDonald, who faces up to 20 years imprisonment if convicted, "is believed to be in hiding," the U.S. Attorney's office said in a news release. CHICAGO--(BUSINESS WIRE)--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 2021 Stock Market Crash, on Thursday, January 14, 2021 at 3pm EST. He appeared as a financial expert on TV. Hercules investments is an award-winning portfolio manager serving growth-focused individual. . . UVXY went from $12 to $120. 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. Currently james mcdonald hercules investments bio concealing his whereabouts., https: // means youve safely to., plays in Major League Baseball founded solely to achieve these goals in and! This, we will need to lock down the economy again and this will inevitably trigger the beginning a. And Index Strategy Advisors all e-mails, letters, notices, or messages from messaging! Because it can be claimed in this motion decades in prison attach, and., career history, education, & amp ; memberships CEO of Index Strategy Advisors of 100. Of all, documents in their CrowdSourced Library are FREE answer in intervention as required statute... Favorite topics in a personalized feed while you james mcdonald hercules investments bio an investor, you 'd want to much! 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