Which was great for McDonald, because he apparently really muffed the market response to a Joe Biden victory over Donald Trump two years ago: He assumed that the ousting of an incompetent demagogue would tank things. Navin: What indicators do you follow to read the markets? The SEC's complaint, which was filed in the Central District of California, charges McDonald and Hercules with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. Enhancements you chose aren't available for this seller. edgewater hotel haunted; can uk consultant doctors work in usa; is spitfire a compliment Brief content visible, double tap to read full content. 5 & Ex. - Why volatility as an asset class is key for 2021, Its important for investors to be prepared for stock market volatility, as the economic outlook remains fragile in 2021, McDonald said. James McDonald, the founder of the Los Angeles-based firm Hercules Investments, has profited from the market's recent volatility using stock index options. Our estimate is that stock prices need to come down 20-50% to reflect COVID-19-impacted U.S. economic activity. 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. Curtis A. Kineffective 06/14/2021; Reason: Inventory Transfer, Notice of Case Reassignment; Filed by: Semyon Ginzburg (Plaintiff); As to: HERCULES INVESTMENTS, LLC, a California limited liability company (Defendant); James A. McDonald, JR. (Defendant), Notice of Case Reassignment and Order for Plaintiff to Give Notice; Filed by: Clerk, Case assigned to Hon. The petition shall include a copy of the proposed complaint in intervention or answer in intervention and set forth the grounds upon which intervention rests. (CCP 387(c).). [3] 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. VS DANNY MICHAEL CORRAL, ET AL. Charles Canter will lead the litigation. When investors really want something they are willing to pay up, and stock prices rise. brookstone therapeutic percussion massager with lcd screen; do nigel and jennifer whalley still own albury park 2021-11-16, Los Angeles County Superior Courts | Property | Hercules Investments CEO and CIO James McDonald offers his advice to the next generation of Black Americans. Suite 1200
Neither seems likely, which perhaps explains proposed intervenors unwillingness to file a proposed complaint or answer in intervention as required by statute. 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. 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]. James Zell McDonald (born March 29, 1961) is a former American football tight end in the National Football League. In a recent note to clients, McDonald, who profited from the pandemic crash in March with bullish wagers on stock-market volatility, laid out three reasons the market is especially vulnerable to such a swift downturn right now. A complaint contains allegations that a defendant has committed a crime. 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,. 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. A CNBC spokesperson told USA TODAY the network no longer allowed McDonald on the air as soon it found out he was under investigation. Service shall be made personally or by mail. The proof of service indicates that debtors were served the motion by mail. Hercules Investments, LLC, A California Limited Liability Company, et al., Court Case No. 1/6/2023: Notice of Change of Address or Other Contact Information, 10/11/2022: Certificate of Mailing for - CERTIFICATE OF MAILING FOR (HEARING ON MOTION FOR ORDER MOTION FOR AN ORDER AWARDING POST) OF 10/11/2022, 10/11/2022: Memorandum of Costs After Judgment, Acknowledgment of Credit, and Declaration of Accrued Interest, 10/11/2022: Notice - NOTICE OF WITHDRAWAL OF MOTION FOR AN ORDER AWARDING POSTJUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, 10/11/2022: Minute Order - MINUTE ORDER (HEARING ON MOTION FOR ORDER MOTION FOR AN ORDER AWARDING POST), 9/13/2022: Declaration - DECLARATION OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST- JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, 9/13/2022: Declaration - DECLARATION OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, 9/13/2022: Motion for Order - MOTION FOR ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, 9/13/2022: Declaration - DECLARATION OF SEMYON GINZBURG IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT, 7/18/2022: Appeal - Notice Court Reporter to Prepare Appeal Transcript - APPEAL - NOTICE COURT REPORTER TO PREPARE APPEAL TRANSCRIPT NOA 4/29/22 B321138, 7/5/2022: Appeal - Ntc Designating Record of Appeal APP-003/010/103, 6/20/2022: Appeal - Notice of Default Issued, 5/9/2022: Notice of Filing of Notice of Appeal (Unlimited Civil) - NOTICE OF FILING OF NOTICE OF APPEAL (UNLIMITED CIVIL) 614, 4/29/2022: Appeal - Notice of Appeal/Cross Appeal Filed, 5/3/2022: Minute Order - MINUTE ORDER (HEARING ON MOTION TO COMPEL COMPLIANCE WITH SUBPOENA IN AID O), 4/25/2022: Reply - REPLY PLAINTIFFS REPLY IN FURTHER SUPPORT OF MOTION TO COMPEL COMPLIANCE WITH SUBPOENA IN AID OF ENFORCEMENT OF JUDGMENT AND ENTRY OF PROTECTIVE ORDER TO ALLOW PRODUCTION OF ANY DOCUMENTS THAT, DocketNotice of Change of Address or Other Contact Information; Filed by: Semyon Ginzburg (Plaintiff), DocketUpdated -- Motion for Order AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT: Filed By: Semyon Ginzburg (Plaintiff); Result: Denied; Result Date: 10/11/2022, DocketNotice OF WITHDRAWAL OF MOTION FOR AN ORDER AWARDING POSTJUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT; Filed by: Semyon Ginzburg (Plaintiff), DocketMemorandum of Costs After Judgment, Acknowledgment of Credit, and Declaration of Accrued Interest; Filed by: Semyon Ginzburg (Plaintiff); As to: Hercules Investments, LLC (Defendant); James A. McDonald, Jr. (Defendant); Interest: 61846.47; Service Date: 10/11/2022, DocketMinute Order (Hearing on Motion for Order MOTION FOR AN ORDER AWARDING POST), DocketCertificate of Mailing for (Hearing on Motion for Order MOTION FOR AN ORDER AWARDING POST) of 10/11/2022; Filed by: Clerk, DocketHearing on Motion for Order MOTION FOR AN ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT scheduled for 10/11/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 72 updated: Result Date to 10/11/2022; Result Type to Held, DocketRequest for Refund of Reporter Appeal Transcript Deposit Affidavits attached NA4/29/22; Filed by: Clerk, DocketUpdated -- Amended Declaration OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST- JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT: As To Parties: removed, DocketMotion for Order AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT; Filed by: Semyon Ginzburg (Plaintiff). 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. 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. My investigation has revealed that McDonalds fraudulent capital raise is part of a broader pattern of deceptive conduct, which includes the creation of false account statements for ISA clients, his ongoing misrepresentation to clients that ISA was a registered investment adviser even after he had terminated its registration, and even misleading statements about his educational background, according toFBI Special Agent Robert Chowthi, according to the criminal complaint. The Securities and Exchange Commission (SEC) has filed a civil injunctive action against James Arthur McDonald, Jr. Decl. The Dow Jones industrial average could drop to as low as 15,000, a roughly 50% drop from current levels, he added. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. When the market decline didnt occur, Hercules clients lost between $30 million and $40 million, according to the affidavit. [USA Today]. Hercules Investments Location 633 W 5th St Ste 6770, Los Angeles, California, 90071, United States Description Read More Industry Finance General Finance He appeared as a financial expert on TV. 2021-02-22, Los Angeles County Superior Courts | Contract | 6,971 Number of Organizations $13.3B Total Funding Amount 1,202 Number of Investors. As soon as we found out he was under investigation, we no longer allowed him on our air, said a CNBC spokesperson. Help others learn more about this product by uploading a video! keystyle mmc corp login; thomson reuters drafting assistant user guide. This is the best and simplest approach, but these securities should not be traded by novice investors. The founder of a Chicago megachurch has been fired as its leader. Lastly, even if all or some of the referenced funds could be assigned pursuant to CCP 708.510, the Court would decline to issue an order so doing. 4.). . (See Ex Parte App. VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. The case status is Other. Lindemann Decl. The SECfiled a civil complaint today charging McDonald and Hercules with violations of federal securities law. 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,. Access your favorite topics in a personalized feed while you're on the go. The Adviser grants to the Trust a license to use the names "Hercules Investments" and "Hercules Fund" (the "Name") as part of the name of any Fund during the term of this Agreement. U.S. Attorney's Office, Central District of California, Environmental Crimes and Community Safety, Arcadia Man Charged with Securities Fraud for Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses, Carson Man Sentenced to More Than 11 Years in Prison for Role in International Conspiracy to Launder Money Taken from Fraud Victims, Former MoviePass Executive Arrested on Indictment Alleging He Embezzled $260,000 from Employer to Repay Coachella Debt, Irvine Man Sentenced to 4 Years in Federal Prison for Fraudulently Obtaining $5 Million in COVID Loans He Spent on Sports Cars, Arcadia Man Charged With Securities Fraud For Stealing Client Funds and Concealing His Investment Firms Massive Financial Losses. scott@strategyvoiceassociates.com, Internet Explorer presents a security risk. (See CCP 685.080(b).) 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. In a parallel action, the United States Attorney's Office for the Central District of California announced criminal charges against McDonald. 2, 5 & Ex. SEMYON GINZBURG VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. To add the following enhancements to your purchase, choose a different seller. My plan to write a $2-$3 billion dollar check for a franchise? This is the story of how his charm and 'hubris' was so powerful, after one of his presentations, someone asked if they could join his cult. The best way to follow the money is to identify advancers versus decliners across as many industries, sub-sectors, regions, and asset classes as possible. Case Number: *******9709 Hearing Date: May 3, 2022 Dept: 72. 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. McDonald: If you mean beating as in performing better in terms of absolute returns, then the answer is never. Now he's wanted on fraud charges. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor. THE NAMES "Hercules Investments" AND "Hercules Fund". portville central school yearbooks; jennette mccurdy astroseek. Hercules Investments was awarded the WealthManagement.com 2020 Alternative Asset Manager of the year. TIMOTHY Z. MOSLEY, ET AL. Too many people are getting sick and dying. But what really got my attention was the security that empowered Lewis to make history: junk bonds. ET by Tomi Kilgore. Explore our venture lending portfolio here. VS JAMES A. MCDONALD, JR., ET AL. James M Macdonald is Pres:Workplace Investing at Fidelity Investments. He then misappropriated those funds in various ways, including spending roughly $174,610 of them at a Porsche dealership. "There are going to be explosive opportunities for investors," says James McDonald, CEO of investment firm Hercules Investments on November 12. They are part of the Executive team within the C-Suite Department and their management level is C-Level. BROWN NERI SMITH & KHAN LLP, A LIMITED LIABILITY PARTNERSHIP, AND LAW FIRM VS JAMES A. MCDONALD, ET AL. According to the U.S. Attorney's Office, McDonald's . 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).). 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. Its clock-striking-midnight dealmaking time at the Justice Department. This is the story of the James McDonald and the rise and fall of Hercules Investments. 2-3, 5 & Ex. A new strain of COVID-19, historically elevated tech . It looks like WhatsApp is not installed on your phone. 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: . Yahoo Finance's Alexis Christoforous and Brian Sozzi speak with James McDonald, CEO of Hercules Investments, about the latest market moves. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. 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. Why? Look at what happened in February when the virus became known. Track. Value may lead however in terms of short term suitability for conservative investors. A .gov website belongs to an official government organization in the United States. While Browns response to the motion may add clarity as to what plaintiff here seeks, it does not bring plaintiff any closer to obtaining it through via assignment pursuant to CCP 708.510. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Hercules investments is an award-winning portfolio manager serving growth-focused individual. 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. 2022-01-21, Los Angeles County Superior Courts | Contract | According to the complaint, McDonald falsely represented that investor funds would be used to expand Hercules's business, lied about the firm's financial condition, and failed to disclose that he had promised Hercules clients that the firm would repay earlier losses. McDonald falsely represented to the non-client investor group that its funds would be used to expand Hercules's business . 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. Hercules Investments specializes in actively managed and systematic investment strategies to monetize investment performance from equity market volatility. That is fatal. If you do not agree with these terms, then do not use our website and/or services. 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. A nonparty shall petition the court for leave to intervene by noticed motion or ex parte application. That seems not to be a proper basis for intervention under CCP 387, and Bunnell cites no meaningful authority for the proposition that he may intervene in an action for the limited purposes of participating in post-judgment proceedings or seeking to undermine the judgment already entered. James graduated from Harvard . Notice of Change of Address or Other Contact Information; Filed by: Semyon Ginzburg (Plaintiff), Updated -- Motion for Order AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT: Filed By: Semyon Ginzburg (Plaintiff); Result: Denied; Result Date: 10/11/2022, Notice OF WITHDRAWAL OF MOTION FOR AN ORDER AWARDING POSTJUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT; Filed by: Semyon Ginzburg (Plaintiff), Memorandum of Costs After Judgment, Acknowledgment of Credit, and Declaration of Accrued Interest; Filed by: Semyon Ginzburg (Plaintiff); As to: Hercules Investments, LLC (Defendant); James A. McDonald, Jr. (Defendant); Interest: 61846.47; Service Date: 10/11/2022, Minute Order (Hearing on Motion for Order MOTION FOR AN ORDER AWARDING POST), Certificate of Mailing for (Hearing on Motion for Order MOTION FOR AN ORDER AWARDING POST) of 10/11/2022; Filed by: Clerk, Hearing on Motion for Order MOTION FOR AN ORDER AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT scheduled for 10/11/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 72 updated: Result Date to 10/11/2022; Result Type to Held, Request for Refund of Reporter Appeal Transcript Deposit Affidavits attached NA4/29/22; Filed by: Clerk, Updated -- Amended Declaration OF BLAKE J. LINDEMANN IN SUPPORT OF MOTION FOR AN ORDER AWARDING POST- JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT: As To Parties: removed, Motion for Order AWARDING POST-JUDGMENT COSTS AND ATTORNEYS FEES INCURRED IN ENFORCING JUDGMENT; Filed by: Semyon Ginzburg (Plaintiff). mike vernon royal household; are there snakes in gran canaria; shooting in laurel, md yesterday. BEN CECCHINI, ET AL. James McDonald has been working as a Chief Executive Officer at Hercules Investments for 3 years. 5.) However, the motion was not properly served. Hercules Investments CIO James McDonald on CNBC The Exchange Read more: BANK OF AMERICA: Buy these 26 cheap and fundamentally rock-solid stocks before the economic rebound sends them soaring in 2021. (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. (See CCP 685.070(a) [listing costs that creditor may claim].).