Former TV financial analyst arrested for fraud after years in hiding [Los Angeles Times (CA)]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
NASDAQ:AMEX Investor Relations:
porsche-se.com/en/investor-relations
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Source: Los Angeles Times
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. McDonald's lawyer did not respond to a request for comment. McDonald lost between $30 million and $40 million after taking a risky short position that bet against the U.S. economy in the wake of the 2020 presidential election, prosecutors said. To pay his clients back and avoid disclosing the losses, McDonald raised more money by selling equity in his company and disguising how the proceeds would be used, the indictment says. Court documents show that McDonald also misled people about his education. Despite making regular references to his economics degree from Harvard University, McD
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POAHY
Analyst Actions
- 8/20/24 - Sanford C. Bernstein
POAHY
Sec Filings
- 9/26/24 - Form F-6EF
- POAHY's page on the SEC website