Former CNBC analyst was sentenced to 5 years in prison for defrauding investors

A former financial financial analyst accused Investors fraud On Monday, the Ministry of Justice said that among the millions of dollars and the spending of years in the term, he was sentenced to five years in prison.

It is also expected that James Arthur McDonald Junior, 53, will be asked to restore his victims after adopting guilty on April 7 on charges of fraud in securities.

“For his victims, (McDonald) seemed to embody the American dream,” the prosecutors argued in a memorandum. “But the appearance can be deceptive, and as the victims of (McDonald’s) learned their confidence.”

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McDonald, who often appeared as a guest in CNBC as a financial analyst, was arrested in June 2024 at his home in Florida after spending years running and returning to California, where he was the CEO and CEO Chief Investment officials From Hercules Investments LLC, based in Los Angeles, and strategic consultants.

Before fleeing, McDonald appears to have ended his former phone and email and told one person that he intends to “disappear”, according to court documents.

In 2020, McDonald said, “He lost tens of millions of dollars from the money of the Hercules agent after the adoption of a short risk position betting on the authenticity of the US economy in the wake of the American presidential elections,” said prosecutors.

It has misunderstood how to use money and failed to reveal the “huge losses” that has previously continued.

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“Most of these funds differed in different ways, including spending $ 174,610 in Porsche’s agent and transferred 109,512 dollars to the owner of the McDonald’s house he was renting In ArcadiaThe Ministry of Justice said.

In total, McDonald lost about $ 3 million of his customers’ money.

With his other company, he claimed that McDonald sent customers “false account data, including one customer who invested approximately $ 351,000, later needed money to pay a batch at home, and informed McDonald that a lot of money was lost, and he did not get his full investment.”

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In total, the United States Securities and Stock Exchange Committee “More than $ 5.1 million of $ 23 investors and customers, and a bad difference of more than $ 2.9 million of these funds for personal expenses and bonusy -like payments for former investors,” said McDonald.

A federal arrest order was issued to McDonald in 2022 after being accused of fraud in securities.

Greg Normal from Fox News Digital contributed to this report.