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George Jarkesy (born August 1974) is a hedge fund manager who was charged with civil charges of fraud by the SEC. He is also a media commentator and conservative talk radio show host of the George Jarkesy Radio Show.
Jarkesy started his career in the mid-1990s in the financial services industry with a New York Stock Exchange member. Over the past two decades he has been an investor in entrepreneurial growth companies. Jarkesy has originated and/or participated in several hundred investments over the past 20 years, including both debt and equity in private, pre-public and public companies. Jarkesy has founded, invested in and helped to build companies engaged in a broad range of industry sectors, [1] including financial consulting, media, real estate, real estate management, employee leasing, light steel manufacturing, livestock management, technology, natural resources, healthcare and biotechnology.
As an investor and financial advisor who would be later charged with fraud, Jarkesy has been a regular guest on shows like the Neil Cavuto show, [2] The Willis Report with Geri Willis, [3] CNBC's Worldwide Exchange, [4] Fox Business's Willis Watch Dogs, [5] Fox's Fox and Friends, [6] CNBC "The Call" with Kudlow [7]
Jarkesy has been giving speeches at events such as the Tea Party Rally in Conroe Texas [8] where he encouraged attendees to engage and help get out the word about the perceived decline of the US.
Jarkesy is the founder of the National Eagles and Angels Association. The NEAA is a nationwide alliance of investors and business angels that support entrepreneurial growth companies. The organization holds daytime workshops for networking and collaborative breakout sessions; provides mentor-ship services; hosts informative podcasts; and hosts online video conferences for solution sharing. The NEAA has chapters in many cities around the country. With monthly and quarterly meetings, entrepreneur are brought together to present their businesses to investors and business angels. Sometimes business is transacted, but always, good contacts and friendships are made. Oftentimes the angels provide mentorship training to the business owners to steer them in a direction of higher profitability.
Jarkesy has shown disappointment with the actions of former-President Barack Obama during his term, and voiced concerns about potentially unconstitutional executive Orders, as well as allegations that he appointed communists into departmental roles.[ citation needed ] That former-President Obama surrounded himself with advisors with close ties to the Muslim Brotherhood, the decline of the American coal industry, and allegations that there has been targeted persecution and harassment of conservatives by government agencies.[ citation needed ] These concerns were voiced in a song he wrote named "The Bad Obama Blues" [9]
Jarkesy identifies as a Republican, both donating money for candidates at various of state and federal levels. He has spoken often on political unrest in America, often signalling out former-President Obama for his policy decisions and considers himself one of the first to accuse Obama of being a supposed Communist. After feeling dissatisfaction with the Obama Presidency, Jarkesy started a radio show bearing his name. On his show he raised concerns over the supposed government overreach, potential abuses of power coming from within the Executive Branch including specific legal overreach by government agencies.
Jarkesy has written numerous columns including: “Global Warming” RIP, American Economy Needs Relief for TownHall.com, [10] to Solyndra, Solar Dreams, Bankruptcy and More Government Waste for BusinessInsider.com, [11] to Golden Parachutes for the common American, Janet Yellen at the world! for TownHallFinance.org [12] and Marx and Marshall Would Be Proud Of Obama's Attack On Religion for Town Hall's Money World, [13] Will We Have to Tell Our Grandchildren About How America Used to be? for Glenn Beck's The Blaze, [14] Taxapalooza for EconIntersect.com [15] and Steele got the job done for the Baltimore Sun. [16] While most of his writing was financial or economic in nature, the underlying theme was the opinion that former-President Obama was consistently ruining the country. There are few others in the media at his level that are as outspoken about the administration's economic policies and the devastation effect that they have had on out economy under Obama [citation needed].
Jarkesy regularly appears on both radio and TV as a commentator on business and politics on CNBC's Worldwide Exchange, [17] Fox Business's
Jarkesy Launched a nationally syndicated radio show in 2012 on the Wall Street Radio Network owned by Salem Media. The George Jarkesy Radio Show launched on January 9, 2012 [18] in five markets nationwide. The show will be bringing a mix of politics and business to Houston, Atlanta, Orlando, Boston, and Sacramento. Jarkesy draws upon his past experience as an entrepreneur, investor and businessman to provide his insights about the economy, markets, and politics.
The George Jarkesy Show added Minneapolis/St. Paul, Minnesota radio station KYCR AM 1570 on the Wall Street Business Network is its newest affiliate, on May 7, 2012. [19] The following month, in June 2012, The George Jarkesy Radio Show expanding into the Dallas/Fort Worth area Monday as the show added KVCE AM 1160 to their expanding list of affiliates. [20]
Guests on the show have included: Congressman Kevin Brady, [21] Congressman Randy Weber, [22] Senator Chuck Schumer, [23] Charlie Daniels, [24] Dr. Thomas Sowell, [25] Senator Doctor Tom Coburn, [26]
On March 22, 2013, Jarkesy was charged with civil charges of fraud by the SEC. The charges accuse Jarkesy and Thomas Belesis of John Thomas Financial of defrauding investors in two hedge funds. According to the complaint, amongst other things, Jarkesy told investors that he was the fund manager, when in fact a number of decisions were made by Belesis. Additionally, investors were led to believe the funds were audited by KPMG when they were not. [27] [28] The complaint also alleges that Jarkesy paid himself and his partner exorbitant fees while inflating value of the assets. Jarkesy responded by suing the SEC, claiming that it didn't have the authority to impose fines on him. In May 2023, the U.S. Fifth Circuit Court of Appeals sided with Jarkesy, ruling that the use of internal hearings before an administrative law judge was a violation of the Seventh Amendment. [29] The U.S. Supreme Court agreed to review the opinion from the Fifth Circuit and heard arguments on the matter on November 29, 2023. [30] On Jun 27, 2024 The U.S. Supreme Court ruled in agreement with the Fifth Circuit. [31] [32]
Henry McKelvey Blodget is an American businessman, investor and journalist. He is notable for his former career as an equity research analyst who was senior Internet analyst for CIBC Oppenheimer and the head of the global Internet research team at Merrill Lynch during the dot-com era. Blodget was charged with civil securities fraud by the U.S. Securities and Exchange Commission and settled the charges. Blodget is the co-founder and former CEO of Business Insider.
James Beeland Rogers Jr. is an American investor and financial commentator based in Singapore. Rogers is the chairman of Beeland Interests, Inc. He was the co-founder of the Quantum Fund and Soros Fund Management. He was also the creator of the Rogers International Commodities Index (RICI).
James Joseph Cramer is an American television personality, author, entertainer, and former hedge fund manager. He is the host of Mad Money on CNBC, and an anchor on Squawk on the Street. After graduating from Harvard College and Harvard Law School, he worked for Goldman Sachs and then became a hedge fund manager, founder, and senior partner of Cramer Berkowitz. He co-founded TheStreet, which he wrote for from 1996 to 2021. Cramer hosted Kudlow & Cramer from 2002 to 2005. Mad Money with Jim Cramer first aired on CNBC in 2005. Cramer has written several books, including Confessions of a Street Addict (2002), Jim Cramer's Real Money: Sane Investing in an Insane World (2005), Jim Cramer's Mad Money: Watch TV, Get Rich (2006), and Jim Cramer's Get Rich Carefully (2013).
Stuart A. Varney is a British-American talk show host and conservative political commentator who works for Fox News and the Fox Business Network. Born in the United Kingdom, he worked as a journalist before joining Fox News in January 2004 as a business contributor, such as on Your World with Neil Cavuto.
Gary S. Gensler is an American government official and former investment banker serving as the chair of the U.S. Securities and Exchange Commission (SEC). Gensler previously worked for Goldman Sachs and has led the Biden–Harris transition's Federal Reserve, Banking, and Securities Regulators agency review team. Prior to his appointment, he was professor of Practice of Global Economics and Management at the MIT Sloan School of Management.
Robert Allen Stanford is a convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012, having operated an eight billion dollar Ponzi scheme, and is now serving a 110-year federal prison sentence.
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Denise Kay Shull is a performance coach who uses neuroeconomics and modern psychoanalysis in her work with hedge funds and professional athletes. She is also the founder of The ReThink Group. Shull focuses on the positive contribution of feelings and emotion in high-pressure decisions. She is the author of Market Mind Games which explains how Wall Street traders act out Freudian transferences in reaction to market moves. Shull postulates that human perception contains fractal elements in the same manner as the fractal geometry of nature.
Harry M. Markopolos is an American former securities industry executive and a forensic accounting and financial fraud investigator.
Rajakumaran Rajaratnam is a Sri Lankan-American former hedge fund manager and founder of the Galleon Group, a New York-based hedge fund management firm. He is also the author of his memoir, Uneven Justice: The Plot to Sink Galleon.
Robert S. Khuzami was the Deputy U.S. Attorney for the United States Attorney's Office for the Southern District of New York until March 22, 2019. He previously was a United States federal prosecutor and Assistant United States Attorney for the office, and a former director of the Division of Enforcement of the U.S. Securities and Exchange Commission. He was previously a partner at law firm Kirkland & Ellis. and general counsel of Deutsche Bank AG.
Raymond Joseph Lucia, Sr. is an American former Certified Financial Planner, former Registered Investment Advisor, author, radio personality and television host. He is host of The Ray Lucia Show, a nationally syndicated radio and television financial talk show on the Business Talk Radio Network and the Biz Television network.
Thomas Belesis is an American banker and was the founder and CEO of John Thomas Financial, a New York City-based financial services company.
Carol Roth is an American television personality, bestselling author, entrepreneur, radio host, and investor. Roth appears regularly on national cable television networks including Fox Business, CNBC, CNN, Fox News and MSNBC. She was one of the judges on Mark Burnett's America's Greatest Makers television show and was a weekly panelist on the current events and business show Bulls & Bears. She was the host of WGN Radio's The Noon Show, and author of three books, including two New York Times bestsellers. As a self-styled "recovering" Investment Banker, she has completed more than $2 billion in capital raising, mergers & acquisitions and related transactions and invests in private companies.
Fredrick Douglas Scott is an American private equity investor, business consultant, philanthropist and contributing writer for Entrepreneur magazine, who pleaded guilty to conspiracy in 2014. In 2010 he was named one of Ebony magazine's "Top 30 Under 30", described as "the youngest African-American hedge fund founder in history", according to the Ebony article.
Monica Mehta is an American financial journalist and investor. She authored The Entrepreneurial Instinct: How Everyone Has the Innate Ability to Start a Successful Small Business and writes small business and finance columns for Inc. and Entrepreneur. She also writes for the Wall Street Journal's "The Experts." Mehta has appeared on national cable networks including Fox News, Fox Business, CNBC, CNN, Bloomberg Television, MSNBC and HBO. She is a managing principal at Seventh Capital, a Texas-based investment firm.
SAC Capital Advisors was a group of hedge funds founded by Steven A. Cohen in 1992. The firm employed approximately 800 people in 2010 across its offices located in Stamford, Connecticut and New York City, and various offices. It reportedly lost many of its traders in the wake of various investigations by the Securities and Exchange Commission (SEC). In 2010, the SEC opened an insider trading investigation of SAC and in 2013 several former employees were indicted by the U.S. Department of Justice. In November 2013, the firm itself pleaded guilty to insider trading charges and paid $1.2 billion in penalties. The firm shrank after returning the vast majority of its outside investor capital. Point72 Asset Management was established as a separate family office in 2014. SAC ceased to exist as a separate entity in 2016. Point 72, essentially the continuation of SAC, manages 30 Billion as of 2023.
Charles J. Gradante is an Italian-American businessman in the hedge fund industry, appearing on television and before the United States Congress in that role. Sovereign Wealth Fund Institute's PensionDaily.com called Gradante "one of Wall Street's most sought after opinion leaders" for financial and economic areas. Gradante is known as one of the first hedge fund industry executives to spark a legendary debate about the risk of hedge funds growing too large rather than focusing on finding investments where they have a competitive edge; he most recently discussed the issue at a conference hosted by The Palm Beach Hedge Fund Association that was covered by Yahoo Finance and CorpGov.
Securities and Exchange Commission v. Jarkesy was a case before the Supreme Court of the United States. In May 2022, the Court of Appeals for the Fifth Circuit held, under certain statutory provisions, the Securities and Exchange Commission's administrative adjudication of fraud claims without jury trials in their administrative proceedings with their own administrative law judges (ALJs) rather than Article III judges violated three provisions of the Constitution. The justices ruled that the Securities and Exchange Commission violated the Seventh Amendment.
