After more than two years on the run, a former investment company CEO and TV financial analyst was arrested last weekend and will face federal fraud charges in Los Angeles. 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.
Court documents show that McDonald also misled people about his education. Despite making regular references to his economics degree from Harvard University, McDonald is a graduate of the Harvard Extension School, an open-enrollment institution. Investigators found he took only one class related to economics while studying there. McDonald has been considered a fugitive since November 2021, when he failed to appear before the U.S.