Former financial TV analyst James Arthur McDonald, Jr. was arrested at a residence in Port Orchard on Saturday, June 15, 2024. He faces multiple fraud charges.
A federal grand jury in Los Angeles in January 2023 returned a seven-count indictment against McDonald, the U.S. Attorneys said. He has been charged with the following crimes:Later in its release, the agency added that on April 21, a judge found McDonald liable for a total of over $3.8 million, which represented the profits he gained due to his alleged conduct.CNBCfrom the U.S.
Since McDonald’s compensation for his investment advisory services primarily was based on a percentage of assets under his management, the losses to Hercules clients meant the fees McDonald was entitled to collect dropped significantly, the agency explained.
Source: News Formal (newsformal.com)
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