Former CNBC analysts sentenced investors to 5 years for deceit

Former television financial analyst accusing Cheating investors Of the millions of dollars and many years of run, many years of jail were sentenced to five years in prison, the justice department said on Monday.

James Arthur McDonald Junior, 53, has also been ordered to repay the victims after a guilty petition on April April for securities.

“His victim (McDonald’s) seemed to have a tangible form of American dream,” the prosecutors argued in a statement. “But the scene can be cheated and (McDonald’s) victims, as they learned, their faith was betrayed.”

DOJ says

Former CNBC guest financial analyst James Arthur McDonald Junior has been sentenced to five years in jail. (FBI)

McDonald, who was frequently present at CNBC as a financial analyst, was arrested after spending many years at Florida home in June 22 and brought back to California, where he was the CEO and was the Chief Executive Officer. Chief Investment Officer Los Angeles-based Harucleus Investments LLC and Index Strategy Advisors Inc.

Prior to the escape, McDonald’s appeared to have ended his previous phone and email accounts and told a person that he had planned to “disappear” according to court documents.

In the 5th, McDonald’s election lost billions of dollars of Hercules clients after the US presidential election adopted a dangerous small situation against the health of the US economy, “the complainant said.

How the funds were used in the past and failed to disclose the “large amount of loss” harshleis.

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James McDonald took steps to disappear before the run, officials said. (FBI)

“He has misused most of those funds, including” Porch dealership to spend $ 174,610 and transfer the owner of McDonald’s home owner to the home. In Arcadi“The justice department said.

Overall, McDonald’s lost $ 3 million money from his customers, the plaintiffs said.

With his second company, McDonald’s client “with a client invested approximately 1 351,000 dollars, then needed money to pay down the house, with McDonald’s said that he had lost a lot of money and never returned his full investment.”

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Overall, America Securities and Exchange Commission McDonald’s “23 investors and customers deposited more than 5.1 million and paid more than $ 2.9 million to the former investors for personal costs and payment of Ponzi.”

Federal arrest warrant was issued for McDonald in 2022 after the security of securities was issued.

The report contributed by Greg Normon of Fox News Digital.