. Hercules Capital started at outperform with $17.50 stock price target at Oppenheimer. 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,. 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. Decl. Lines and paragraphs break automatically. Brown, whose firm used to represent defendants on other matters seemingly related to this litigation but never actually appeared on behalf of defendants in this case. His son, James McDonald, plays in Major League Baseball. Number 3 is the presidential election. 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. 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. Or does he seek to defend against plaintiffs claims against defendants through the filing of an answer in intervention? On May 3, 2022, creditors motion to compel compliance with subpoena was denied. The perceived future harm of the new COVID-19 strain in the UK will introduce additional risk to markets, according to McDonald. Hercules Investments was founded by James McDonald, who previously was founder and CEO of Index Strategy Advisors. 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. (See CCP 685.080(b).) For this reason alone, the motion should be denied. LOUI RUDAS, ET AL. Track. NDAQ This is the story of the James McDonald and the rise and fall of Hercules Investments. "There are going to be explosive opportunities for investors," says James McDonald, CEO of investment firm Hercules Investments on November 12. Step 1) Become the best index options trader in the world, and I am very confident that today I have done that. Our payment security system encrypts your information during transmission. Instead, the SEC alleges, McDonald misappropriated more than $1 million of the funds for personal expenses, including luxury vehicles and paying rent on his home, and misappropriated more than $2 million of the funds for Ponzi-like payments, payments to his Hercules' investment adviser clients and expenses associated with operating Hercules. CCP 685.080(b) states: The notice of motion shall be served on the judgment debtor. 2022-01-21, Los Angeles County Superior Courts | Contract | It looks like WhatsApp is not installed on your phone. 2.) Ciaran McEvoy From what we see, there is still a clear disconnect between markets and the health of the economy. Prior to that he was CIO of Vishnu Wealth Management and CEO. Navin: What book or books would you recommend for someone interested in learning about markets? A nonparty shall petition the court for leave to intervene by noticed motion or ex parte application. Hercules Capital is the largest business development company focused on venture lending, and the lender of choice for innovative entrepreneurs and their venture capital partners. ) or https:// means youve safely connected to the .gov website. Because in addition to unemployed, he can also now call himself whistleblower.. 2021-02-22, Los Angeles County Superior Courts | Contract | ), 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. "Monday's selling pressure isn't a sign that a major market crash is imminent, but crashes do begin with shifts in short-term sentiment like we have seen in recent sessions," McDonald said. But what really got my attention was the security that empowered Lewis to make history: junk bonds. Explore our venture lending portfolio here. This item can be returned in its original condition for a full refund or replacement within 30 days of receipt. If Trump wins, his handling of the virus may result in its prolonged detrimental effect on a recovery. When facing allegations such as these, its best not to be seen on TV. The Hercules Fund aims to generate positive returns during times of rising and falling stock markets. McDonald allegedly also falsely represented to clients that ISA, his other firm, was a registered investment adviser, even though he had withdrawn ISA as a state-registered investment adviser firm in May 2019. (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]. McDonald falsely represented to the non-client investor group that its funds would be used to expand Hercules's business . 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 founder of a Chicago megachurch has been fired as its leader. 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. McDonald: If you mean beating as in performing better in terms of absolute returns, then the answer is never. 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. . brookstone therapeutic percussion massager with lcd screen; do nigel and jennifer whalley still own albury park 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. 3.) Look at what happened in February when the virus became known. Please use a different way to share. View James A McDonald's profile for company associations, background information, and partnerships. The SEC also filed a complaint against the California-based advisor and frequent CNBC commentator. McDonald: Our calculations put the S&P at 2,889 and the Dow at 23,740by inauguration and if Biden wins, S&P 1,800 and Dow 15,000 by August 2021. James McDonald, the founder of the Los Angeles-based firm Hercules Investments, has profited from the market's recent volatility using stock index options. 4.) Access your favorite topics in a personalized feed while you're on the go. Case Details Parties Documents Dockets. A CNBC spokesperson told USA TODAY the network no longer allowed McDonald on the air as soon it found out he was under investigation. To stop this, we will need to lock down the economy again and this will inevitably trigger the beginning of a recession. McDonald, who faces up to 20 years imprisonment if convicted, is believed to be in hiding, the U.S. Attorneys office said in a news release. proof by the judgment creditor . 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,. Second, the Court file reflects that the motions which creditor filed have been unsuccessful. November's blockbuster jobs report. 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. Wealth Management is part of the Informa Connect Division of Informa PLC. Proposed intervenor failed to include a copy of the proposed complaint in intervention or answer in intervention, as required by CCP 387(c). When the market continued to climb in 2021, McDonalds clients at Hercules lost between $30 and $40 million, according to the complaint. 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. In early 2021, McDonald solicited millions of dollars' worth of funds from investors in the form of a purported capital raise for Hercules but misrepresented how the funds would be used and failed to disclose the massive losses Hercules previously sustained. 2022-01-10. Though McDonald did respond to some records requests, he failed to show on the scheduled date. My plan to write a $2-$3 billion dollar check for a franchise? XOM In response, McDonald began soliciting funds for a purported capital raise for the company; as an avid football enthusiast, he claimed to be setting up a publicly traded mutual fund with the ticker symbol of NFLHX, but according to the Justice Department, this was a ruse concocted as the advisorcontinued to notinform clients about the seismic losses the firm suffered. 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. BEN CECCHINI, ET AL. Neither seems likely, which perhaps explains proposed intervenors unwillingness to file a proposed complaint or answer in intervention as required by statute. Arcadia Man Charged with Securities Fraud for. Miraculously in 2006, I found an orthopedic surgeon who fixed my knee and I got back on the field at the age of 35. On 11/16/2021 HERCULES INVESTMENTS, LLC, filed a Contract - Business lawsuit against DANNY MICHAEL CORRAL,. That product for me ended up being index options. However, interest is not the type of cost that can be claimed in this motion. Or before an SEC investigator. Amazon has encountered an error. 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