Southern California

Former CNBC Analyst to Admit Conning Investors Out of Nearly $3 Million

James Arthur McDonald raised millions from clients but used much of it for personal investments and Ponzi-like payments to earlier investors.
Former CNBC Analyst to Admit Conning Investors Out of Nearly $3 Million
James Arthur McDonald, Jr., pleaded guilty to bilking investors out of at least $2.7 million. FBI
Jill McLaughlin
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Former CNBC financial analyst James Arthur McDonald faces decades behind bars after defrauding investors out of at least $2.7 million, the U.S. Department of Justice (DOJ) announced Feb. 19.

McDonald, 53, a former resident of Arcadia, Calif., agreed to plead guilty to one count of securities fraud, a felony that carries a statutory maximum sentence of 20 years in federal prison.

Jill McLaughlin
Jill McLaughlin
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Jill McLaughlin is an award-winning journalist covering politics, environment, and statewide issues. She has been a reporter and editor for newspapers in Oregon, Nevada, and New Mexico. Jill was born in Yosemite National Park and enjoys the majestic outdoors, traveling, golfing, and hiking.