Former TV financial analyst arrested for fraud after years in hiding
LA TimesJames Arthur McDonald Jr. was arrested in Washington state after more than two years on the run. A former investment company CEO and TV financial analyst, McDonald faces federal fraud charges in L.A. After more than two years on the run, a former investment company CEO and TV financial analyst was arrested last weekend and will face federal fraud charges in Los Angeles. James Arthur McDonald Jr. lied about things including his Harvard education and how he spent millions of dollars raised from clients, according to charging documents filed last year in U.S. District Court. McDonald, who frequently appeared as a guest analyst on CNBC, misappropriated at least $675,000 from investors, including nearly $175,000 spent at a Porsche dealership, court documents said. Authorities located and arrested him this month at a residence in Port Orchard, Wash. McDonald, former CEO of Hercules Investments LLC and Index Strategy Advisors, appeared in court June 17 and waived his right to a detention hearing in the Western District of Washington.
Discover Related
)
