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. (Lindemann Decl. How did you first become interested in markets? I knew from the first time I stepped on the field at 11 years old that I wanted to be an NFL linebacker; and today at 49 years old, I still wish I could play in the NFL! 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. 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. The perceived future harm of the new COVID-19 strain in the UK will introduce additional risk to markets, according to McDonald. 2) and that [t]he insurance policy that generated the fund is referred to in the Settlement Agreement at 5. (Supp. Chowthi said McDonald gave D.J. McDonald: Without question: Market Wizards Jack Schwager. Ironically, however, pertinent information about any right to payment comes not from the moving party, but from the response to the motion by Ethan J. Your activity looks suspicious to us. James McDonald, the chief investment officer at Hercules Investments, told Business Insider that the news would be the catalyst for a protracted sell-off heading into the election.. Hercules Investments was founded by James McDonald, who previously was founder and CEO of Index Strategy Advisors. . - Strategies to profit from a stock market decline Previously, McDonald was of counsel to Gary, Williams, Parenti, Watson & Gary, P.L.LC. Third, although creditor incurred fees defending against proposed intervenor Justin Bunnells efforts to vacate the stipulated judgment, these fees are not related to the collection of judgment against debtors. Because in addition to unemployed, he can also now call himself whistleblower.. Produce all communications (including e-mails, text messages, or messages from any messaging service) between James McDonald and Justin Bunnell. This is the story of the James McDonald and the rise and fall of Hercules Investments. 6,971 Number of Organizations $13.3B Total Funding Amount 1,202 Number of Investors. May 2021 - Present1 year 10 months. And the best part of all, documents in their CrowdSourced Library are FREE! Cancellation and Refund Policy, Privacy Policy, and A locked padlock Please try again. You can lose money trading or investing in stocks and other instruments. Moreover, the claimed fees are insufficiently supported. Updated -- Hercules Investments, LLC (Defendant): Organization Name changed from HERCULES INVESTMENTS, LLC, a California limited liability company to Hercules Investments, LLC, Case reassigned to Stanley Mosk Courthouse in Department 72 - Hon. James M Macdonald is Pres:Workplace Investing at Fidelity Investments. McDonald an avid football enthusiast stated that he planned to launch a publicly traded mutual fund under the ticker symbol NFLHX. The losses to Hercules clients and the potential for litigation related to those losses jeopardized the success of that fund because any litigation would have had to be publicly disclosed. A nonparty shall petition the court for leave to intervene by noticed motion or ex parte application. scott@strategyvoiceassociates.com, Internet Explorer presents a security risk. If Trump wins, his handling of the virus may result in its prolonged detrimental effect on a recovery. Wealth Management is part of the Informa Connect Division of Informa PLC. James McDonald, CEO at Los Angeles-based alternative investment manager Hercules Investments has a trade which would profit from the stock market dropping back to March lows. Hercules Investments CIO James McDonald on CNBC The Exchange As part of the capital raise, McDonald obtained $675,000 in investment funds from one victim group on March 9, 2021. Number 3 is the presidential election. The SEC alleges that McDonald, a former guest commentator on CNBC, raised more than $5.1 million from 23 investors and clients, and misappropriated more than $2.9 million of those funds for personal expenses and Ponzi-like payments to earlier investors. That is fatal. ${cardName} not available for the seller you chose. McDonald was the CEO of Los Angeles County-based Hercules Investments and Index Strategy Advisors Inc., prosecutors said. low income communities, small businesses). Hercules investments is an award-winning portfolio manager serving growth-focused individual. Indeed, Bunnell concedes he has no actual interest in participating in this litigation at all. are slashing up to 20% of their workforce. SEMYON GINZBURG VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. 1 1 Hercules Investments @HerculesInvests May 13, 2021 Tune in today's Fast Money on CNBC at 2pm PST. The SEC appreciates the assistance of the U.S. Attorney's Office, the Federal Bureau of Investigation, and the Internal Revenue Service-Criminal Investigation Division. Even assuming that $1.45 million has been received by Mr. Browns account from Herculess insurer, it is either (1) Herculess money (which happens to be held its former counsel) or (2) money set aside to pay defense costs to Herculess counsel or claims by investors claiming losses. Hercules Investments is the firm I founded solely to achieve these goals. Step 1) Become the best index options trader in the world, and I am very confident that today I have done that. Hercules Investments, LLC, A California Limited Liability Company, et al., Court Case No. And, also, relatedly and with the prospect of decades in prison attach, conspiracy and fraud. Value may lead however in terms of short term suitability for conservative investors. Accordingly, to the extent that the post judgment enforcement proceedings in this case includes work on creditors ex parte application and motions, such work appears not to have been reasonable and necessary. (Reply at 3.) McDonald could not be reached for comment. 2-3, 5 & Ex. 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. Track. 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,. Suite 1200 Lines and paragraphs break automatically. All e-mails, letters, notices, or any other communication between Ethan Brown and any representative or lawyer for Ascot. options. Plaintiff Semyon Ginzburgs Motion to Compel Compliance with Subpoena is DENIED. (See CCP 685.070(a) [listing costs that creditor may claim].). keystyle mmc corp login; thomson reuters drafting assistant user guide. On February 10, 2022, plaintiff served a deposition subpoena seeking the production of business records on Ethan Brown, custodian of records for Brown Neri Smith & Khan LLP (BNSK). ), Under CCP 708.120, the examination of a third party in a postjudgment proceeding is limited to exploring the third partys possession of the judgment debtors property or any debt owed the judgment debtor. (Fox Johns Lazar Pekin & Wexler, APC v. Superior Court (2013) 219 Cal.App.4th 1210, 1222; see also CCP 708.120(a) [Upon . Tune in today to watch James McDonald, CEO of Hercules Investments, on CNBC's Fast Money at 2pm PST. 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. (Brown Decl. (See 2/15/22 Minute Order at 2-3.) 2022-08-16, California Courts Of Appeal | Other | From what we see, there is still a clear disconnect between markets and the health of the economy. He also allegedly sent ISA clients false account statements, including for one client who invested approximately $351,000, later needed the money to make a down payment on a home, was informed by McDonald that much of the money had been lost, and never got his full investment back. Scott Gamm 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. Accordingly, plaintiff fails to demonstrate that the requested documents pertain to the search for assets to satisfy the judgment entered against defendants Hercules Investments, LLC and James McDonald in this action. In this virtual event, McDonald shares: - Why the markets are too optimistic about the Covid-19 vaccine In 2018, I earned Defensive MVP for my championship winning team and led the entire league in tackles. My plan to write a $2-$3 billion dollar check for a franchise? Being able to identify the turning points in sentiment is our secret to success. VS HERCULES INVESTMENTS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, ET AL. A frequent lecturer and conference speaker, he is a nationally-recognized expert on the topics of macroeconomics, event-driven investing, growth investing, portfolio construction, index investing, exchange-traded funds, digital currencies, and index . 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. 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