LOS ANGELES- A former San Gabriel Valley resident – who was a frequent guest on financial television news programs then became a fugitive from justice after being accused of scamming investors – was sentenced today to 60 months in federal prison for defrauding his victims out of millions of dollars.

James Arthur McDonald Jr., 53, formerly of Arcadia, pleaded guilty in April to one federal count of securities fraud, a felony that carries a sentence of up to 20 years in prison, according to the U.S. Attorney’s Office.

McDonald has been in federal custody since June 2024, when he was arrested in Port Orchard, Washington, after being a fugitive since November 2021, when he failed to appear before the U.S. Securities and Exchange Commission to face allegations that he had defrauded investors.

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