November 11, 2022
SEC Civil Action
The SEC filed a civil injunctive action against James Arthur McDonald, Jr. and Hercules Investments, LLC in relation to fraudulent securities offerings. McDonald allegedly raised over $5 million and misappropriated funds for personal expenses and Ponzi-like payments. McDonald also allegedly raised over $3.5 million for securities trades through the Index Strategy Advisors Fund and misappropriated half of the funds for personal expenses. Additionally, McDonald raised $1.5 million through equity investment sales in Hercules’ business while lying, failing to disclose important facts, and more.