Ex-CNBC Pundit Caught By FBI After Nearly Three Years On The Run; James Arthur McDonald Jr. Faces Decades Behind Bars For Fraud If Found Guilty
deadline.comNearly three years since James Arthur McDonald Jr. bailed on a meeting with SEC over allegations of defrauding investors for millions, the FBI picked up the former CNBC pundit in Washington state this weekend.
Set to appear in federal court in Tacoma, WA later today, the one-time Hercules Investments CEO could be looking at “a statutory maximum sentence of 20 years in federal prison for each securities fraud and wire fraud count,” according to the Department of Justice.
McDonald is also facing “up to 10 years in federal prison on the monetary transactions derived from unlawful activity count, and up to five years in federal prison on the investment adviser fraud count,” the feds say.
The office of U.S. Attorney for Central California Martin Estrada expects McDonald to be moved down to LA within the next month.
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