On May 3, 2022, creditors motion to compel compliance with subpoena was denied. McDonald projected that the COVID-19 pandemic and the election would result in major selloffs that would cause the stock market to drop. Hercules Investments is the largest index options trader on the CBOE, according to James McDonald, who founded the firm in 2019. Hercules Investments Location 633 W 5th St Ste 6770, Los Angeles, California, 90071, United States Description Read More Industry Finance General Finance Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses. Pursuant to CCP 685.040, paragraph 13 of the stipulated judgment, and CCP 1033.5(10)(A), creditor Ginzburg is entitled to the reasonable and necessary costs of enforcing a judgment. Though McDonald did respond to some records requests, he failed to show on the scheduled date. No recommendations are made by the author of the blog one way or the other. 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. He last appeared on the network in July 2021. And, now that you, the Justice Department and the SEC mention it, a lot of his stories sound a bit hard to believe. I became obsessed with making my own history through innovative use of a financial product. ), 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. They are part of the Executive team within the C-Suite Department and their management level is C-Level. A lock ( 1996-2023, Amazon.com, Inc. or its affiliates, Select a location to see product availability. Now he's wanted on fraud charges. Curtis A. Kineffective 06/14/2021; Reason: Inventory Transfer 06/14/2021 If Trump wins, his handling of the virus may result in its prolonged detrimental effect on a recovery. He recommended investors have exposure to volatility instruments, which can offset losses in core holdings if markets fall. Navin: What book or books would you recommend for someone interested in learning about markets? 2.) 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. This of course is impossible, therefore equity valuations must eventually reflect economic plausibility. 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. The Court is hard-pressed to see how Bunnell is or should be entitled to enter the case, undo the judgment, and then leavewhich is precisely what the proposed intervenor seemingly seeks to accomplish here. (See Brown Decl. . Look at what happened in February when the virus became known. Case Number: *******9709 Hearing Date: February 15, 2022 Dept: 72. The supplemental declaration also attaches the referenced Settlement Agreement, but paragraph 5 of that agreement merely states: Defendants will give notice of this settlement to their E&O carrier. (Lindemann Supp. Finally, one place to get all the court documents we need. When investors really want something they are willing to pay up, and stock prices rise. - Strategies to profit from a stock market decline The SEC alleges that McDonald, a former guest commentator on CNBC, raised more than $5.1 million from 23 investors and clients, and misappropriated more than $2.9 million of those funds for personal expenses and Ponzi-like payments to earlier investors. keystyle mmc corp login; thomson reuters drafting assistant user guide. Read more about Hercules Capital's Fourth Quarter and Full-Year 2022 Results Life Sciences Technology SaaS Finance Sustainable + Renewable Navin: You've named the issues facing the stock market as "a 3-headed monster." Or before an SEC investigator. Led the design, development, and rollout of investment management, financial planning, and lending standards and practices to the bank's High Net Worth clients. are slashing up to 20% of their workforce. 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. 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. 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. That's especially true since recent progress on vaccines led many investors to expect a smooth return to normal life following their rollout, he said. The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against McDonald and Hercules. 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. 1718 Harriman Ln Redondo Beach, CA 90278 . By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Too many people and firms over-complicate these basic truths. that a third person has possession or control of property in which the judgment debtor has an interest or is indebted to the judgment debtor in an amount exceeding two hundred fifty dollars ($250), the court shall make an order directing the third person to appear before the court, or before a referee appointed by the court, at a time and place specified in the order, to answer concerning such property or debt]. An official website of the United States government. 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. woke up and found that McDonald was gone, leaving his car (with the keys inside) in D.J.s driveway. 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. 312 North Spring Street According to Chowthi, D.J. 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. Case Number: *******9709 Hearing Date: May 3, 2022 Dept: 72. He was named a "rising star" advisor in 2012 by ETF.com, frequently appeared on CNBC as a market analyst, including on "Fast Money" and "The Exchange," and Hercules Investments won a. James McDonald went from being CNBC market pundit, media darling and self-proclaimed options guru to a fugitive in hiding and on the run. Case Details Parties Documents Dockets. 6,971 Number of Organizations $13.3B Total Funding Amount 1,202 Number of Investors. LOS ANGELES, July 23, 2020 /PRNewswire/ -- Hercules Investments, a Los Angeles based Registered Investment Advisor and Independent Wealth Advisor, has announced the hire of Loreal McDonald as . | By . 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. Strategy Voice Associates, LLC ${cardName} not available for the seller you chose. Hercules and the various insureds settled claims for $1,450,000, which was directed by Hercules to be paid into a separate account maintained by BNSK and distributed at Hercules direction for (1) defense costs relating to claims by investors against Hercules for losses sustained as a result of Hercules investment strategies and/or (2) to pay claims by various investors relating to losses by such investors as established by the Settlement Agreement. (Brown Decl. Service shall be made personally or by mail. The proof of service indicates that debtors were served the motion by mail. The FBI and IRS Criminal Investigation investigated this matter. Decl. James M Macdonald is Pres:Workplace Investing at Fidelity Investments. Share sensitive information only on official, secure websites. I took full advantage of my 2nd chance and was blessed to play semi-pro football for 13 years. In an initial declaration, counsel for plaintiff confusingly and without providing context, corroboration, or support states: The settlement agreement underlying the Judgment, and communication, refers to the fact that the payment will come from the Ascot insurance policy. (Lindemann Decl. Navin: If you could ask Jerome Powell a question what would it be? Indeed, Bunnell concedes he has no actual interest in participating in this litigation at all. James Mcdonald Email & Phone Number Chief Executive Officer @ Hercules Investments 5 free lookups per month. ciaran.mcevoy@usdoj.gov ), Case Number: *******9709 Hearing Date: March 10, 2022 Dept: 72. options. We are sorry. On 11/16/2021 HERCULES INVESTMENTS, LLC, filed a Contract - Business lawsuit against DANNY MICHAEL CORRAL,. (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. XOM Turns out I am as good as I thought I was. The SEC also filed a complaint against the California-based advisor and frequent CNBC commentator. McDonald then used some of the funds from this capital raise for his own purposes, including $174,610 at a Porsche dealership, $109,512 for rent expensesand nearly $7,000 on designer menswear, according to the DOJ. All e-mails, letters, notices, or any other communication between Ethan Brown and any representative or lawyer for Ascot. Hercules Investments LLC Active 2019 1 Member Excel Known Addresses for James McDonald. A nonparty shall petition the court for leave to intervene by noticed motion or ex parte application. The founder of a Chicago megachurch has been fired as its leader. Moreover, the claimed fees are insufficiently supported. 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! 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? 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.. James is the co-author of How To Invest In Bitcoin By Two Harvard Minds. Hes a graduate of Harvard University with a B.A. Every defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt. Why is this public record being published online? McDonald graduated from Harvard University with a Bachelors degree in Economics. 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. Things are escalating quickly for the folks behind StraightPath Venture Partners. 2021-02-22, Los Angeles County Superior Courts | Contract | Paperback $35.00 1 New from $35.00 This is the story of the James McDonald and the rise and fall of Hercules Investments. Location South Ozone Park, New York, United States Work Chief Executive Officer @ Hercules Investments Chief Executive Officer and Chief Investment Officer @ Index Strategy Advisors No credit card required. Prior to that he was CIO of Vishnu Wealth Management and CEO. Because in addition to unemployed, he can also now call himself whistleblower.. 1.) Second, the Court file reflects that the motions which creditor filed have been unsuccessful. Navin: What indicators do you follow to read the markets? A complaint contains allegations that a defendant has committed a crime. 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. Step 2) Generate $12 billion in index options profits for growth seeking investors. Houston, Texas, United States. In 2018, I earned Defensive MVP for my championship winning team and led the entire league in tackles. 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. 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 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. Id rather my 72-year-old retired mom own a stable dividend stock right now than a FAANG! 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. Los Angeles, California 90012. scott@strategyvoiceassociates.com, Internet Explorer presents a security risk. He then misappropriated those funds in various ways, including spending roughly $174,610 of them at a Porsche dealership. If you're an investor, you'd want to look much deeper into each of these situations. 297 views, 25 likes, 0 loves, 5 comments, 0 shares, Facebook Watch Videos from Hercules Investments: James McDonald, CEO of Hercules Investments on CNBC this morning discussing investment. For this reason alone, the motion should be denied. Miraculously in 2006, I found an orthopedic surgeon who fixed my knee and I got back on the field at the age of 35. 4. "Risks here are as high or higher than potential gains, so it only makes sense to have a defense in place," McDonald concluded. Does he seek to join in plaintiffs claims against the defendants through the filing of a complaint in intervention? 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. The Judge overseeing this case is MARGARET MILLER BERNAL. Plaintiff and judgment creditor Semyon Ginzburgs Motion for an Order Awarding Post-Judgment Costs and Attorney Fees Incurred in Enforcing Judgment is DENIED. No, Brent Kovars mother didnt have an artificial intelligence supercomputer in her basement, the SEC says. (Lindemann Decl. in commitments IPO and M&A exits companies funded assets under management co-investments with VC & PE firms new debt & equity commitments in commitments IPO and M&A exits Produce all communications (including e-mails, text messages, or messages from any messaging service) between Hercules Investments, LLC and Justin Bunnell. 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. 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. Pursuant to CCP 708.510, a judgment creditor may seek by way of noticed motion an order that the judgment debtor assign to the judgment creditor all or part of a right to payment due or to become due. (CCP 708.510(a).). 2022-01-24, Los Angeles County Superior Courts | Contract | VOLQ is even better because it can be used to protect gains and principal in tech holdings. May 2021 - Present1 year 10 months. Los Angeles County Superior Courts | Contract | 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. (Reply at 3.) Too many people are getting sick and dying. "There are going to be explosive opportunities for investors," says James McDonald, CEO of investment firm Hercules Investments on November 12. Navin: Growth has been beating value for a number of years now. 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. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor. SEMYON GINZBURG VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. Hercules Investments is the firm I founded solely to achieve these goals. Under CCP 187, the Court can fashion an appropriate procedure to ensure that no stone [is left] unturned in the search for assets which might be used to satisfy the judgment. (Troy v. Superior Court (1986) 186 Cal.App.3d 1006, 1014 [[T]he purpose of a judgment debtor examination is to leave no stone unturned in the search for assets which might be used to satisfy the judgment]; Yolandas, 11 Cal.App.5th at 515. 28, 2021 at 7:18 a.m. Help others learn more about this product by uploading a video! Work Biography for James McDonald, Hercules Investments. McDonald was the CEO of Los Angeles County-based Hercules Investments and Index Strategy Advisors Inc., prosecutors said. CEVA Logistics. For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker. Creditors motion to compel compliance with subpoena was denied growth has been fired as its leader his car ( the... Was blessed to play semi-pro football for 13 years to that he was CIO Vishnu! 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