James Arthur McDonald Jr., is accused of swindling investors and evading law enforcement for more than two years.
A ex-investment company CEO who previously appeared on CNBC as a guest analyst was arrested in Washington state on fraud charges after more than two years as a fugitive from a Securities and Exchange Commission investigation.
McDonald agreed to be transferred from Washington to Los Angeles within weeks, to face charges there of one count of securities fraud, one count of wire fraud, three counts of investment adviser fraud, and two counts of engaging in monetary transactions in property derived from unlawful activity. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"McDonald's trascripts from the Harvard Extension School list his concentration as 'Social Sciences,' and only one of the sixteen classes he took ... appears to be an economics class," the affidavit said.
McDonald went on the lam in November 2021 after failing to appear for scheduled testimony before the SEC to testify about his alleged defrauding of investors in what he had pitched to them as a plan to launch a mututal fund under the ticker symbol"NFLHX." The ticker would have been a nod to McDonald's affection for NFL football.
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