Does he seek to join in plaintiffs claims against the defendants through the filing of a complaint in intervention? The FBI and IRS Criminal Investigation investigated this matter. Track. 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. Case Number: *******9709 Hearing Date: May 3, 2022 Dept: 72. 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 . 1 1 Hercules Investments @HerculesInvests May 13, 2021 Tune in today's Fast Money on CNBC at 2pm PST. Please use a different way to share. Our estimate is that stock prices need to come down 20-50% to reflect COVID-19-impacted U.S. economic activity. The SEC also filed a complaint against the California-based advisor and frequent CNBC commentator. 1996-2023, Amazon.com, Inc. or its affiliates, Select a location to see product availability. Pastor James MacDonald, of Harvest Bible Chapel, was given the boot last week by church elders after "highly inappropriate . There are 0 customer reviews and 1 customer rating. 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. 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. This item can be returned in its original condition for a full refund or replacement within 30 days of receipt. Today were the largest index options trader on the CBOE and the largest trader of Nasdaq 100 James McDonald has been working as a Chief Executive Officer at Hercules Investments for 3 years. Third, although creditor incurred fees defending against proposed intervenor Justin Bunnells efforts to vacate the stipulated judgment, these fees are not related to the collection of judgment against debtors. Sign up for our newsletter to get the inside scoop on what traders are talking about delivered daily to your inbox. "As we see now, eventually reality strikes and changes things overnight. McDonald told Business Insider. 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. The $900 billion stimulus package is necessary and was largely expected by investors but it won't be enough to limit the economic fallout of the pandemic, according to McDonald. Now he's wanted on fraud charges. (Lindemann Decl. Secure .gov websites use HTTPS 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.. Actually, he didnt just assume it: He bet his clients money rather heavily on it, and lost them upwards of $40 million doing so. Though McDonald did respond to some records requests, he failed to show on the scheduled date. It looks like WhatsApp is not installed on your phone. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor. Plaintiff Semyon Ginzburgs Motion to Compel Compliance with Subpoena is DENIED. 2, 5 & Ex. A new strain of COVID-19, historically elevated tech . 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. Hercules Investments LLC Active 2019 1 Member Excel Known Addresses for James McDonald. Please try again. Includes initial monthly payment and selected options. The SEC further alleges that, from February 2021 to October 2021, McDonald raised $1.5 million through the sale of equity investments in Hercules's business. (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. 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. Prior to that he was CIO of Vishnu Wealth Management and CEO. The opposite is true of course. November's blockbuster jobs report. A frequent lecturer and conference speaker, he is a nationally-recognized expert on the topics of macroeconomics, event-driven investing, growth investing, portfolio construction, index investing, exchange-traded funds, digital currencies, and index . Official websites use .gov Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses [press release]He appeared as a financial expert on TV. Brief content visible, double tap to read full content. Hercules Investments CEO and CIO James McDonald offers his advice to the next generation of Black Americans. 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. Accordingly, plaintiff fails to demonstrate that the requested documents pertain to the search for assets to satisfy the judgment entered against defendants Hercules Investments, LLC and James McDonald in this action. The SEC noted that McDonald was previously a guest commentator for CNBC -. The Hercules Fund aims to generate positive returns during times of rising and falling stock markets. There was a problem loading your book clubs. A complaint contains allegations that a defendant has committed a crime. Offered the chance to ask him a few questions about todays markets, I said, of course, and heres how it went: John Navin: James, what's your background? Neither seems likely, which perhaps explains proposed intervenors unwillingness to file a proposed complaint or answer in intervention as required by statute. judy norton children; court ordered community service california 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. Hercules Investments specializes in actively managed and systematic investment strategies to monetize investment performance from equity market volatility. 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. (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]. The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against McDonald and Hercules. (213) 894-4465. . Hercules Investments, LLC, A California Limited Liability Company, et al., Court Case No. Counsel avers: The services rendered include communications attempting to enforce the settlement agreement and judgment, post judgment enforcement proceedings in this case, defending a separate action brought by Justin Bunnell, defending a separate interpleader brought by Ethan Brown, defending an Appeal brought by Justin Bunnell, and a whole host of other services. (Lindemann Decl. We work hard to protect your security and privacy. 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. A thought-leader in education with a well-rounded background that includes hands-on and comprehensive experience identifying and addressing student differences in background, experiences,. The S&P 500 could be headed for a drop of up to 48%, according to James McDonald, the CEO and chief investment officer of Hercules Investments. 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: . He recommended investors have exposure to volatility instruments, which can offset losses in core holdings if markets fall. This case was filed in Los Angeles County Superior Courts, Norwalk Courthouse located in Los Angeles, California. According to Chowthi, D.J. A .gov website belongs to an official government organization in the United States. in Economics. "Risks here are as high or higher than potential gains, so it only makes sense to have a defense in place," McDonald concluded. To add the following enhancements to your purchase, choose a different seller. 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. Navin: Growth has been beating value for a number of years now. Help others learn more about this product by uploading a video! as well as other partner offers and accept our, Visit Business Insider's homepage for more stories, 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, BANK OF AMERICA: Buy these 26 cheap and fundamentally rock-solid stocks before the economic rebound sends them soaring in 2021, Registration on or use of this site constitutes acceptance of our. If Trump wins, his handling of the virus may result in its prolonged detrimental effect on a recovery. James McDonald, CEO of Hercules Investments on CNBC this morning discussing investment opportunities in the technology industry and the new FAANGS.
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