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George Jarkesy

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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.

Career

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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]

Public speaker

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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.

Founder of National Eagles and Angels Association

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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.

Songwriter

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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]

Politics

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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.

Columnist

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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].

The George Jarkesy Radio show

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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]

Fraud charges

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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]

References

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  1. ^ Stone, Leslie (June 6, 2012). "Journalist". Opportunist Magazine. Archived from the original on 2013-07-23.
  2. ^ The Neil Cavuto Show
  3. ^ The Willis Report
  4. ^ CNBC's Worldwide Exchange
  5. ^ Willis Watch Dogs
  6. ^ Fox and Friends
  7. ^ CNBC's The Call with Kudlo
  8. ^ Tea Party Rally in Conroe Texas
  9. ^ Bad Obama Blues
  10. ^ TownHall.com
  11. ^ BusinessInsider.com
  12. ^ TownHallFinance.org
  13. ^ Money World
  14. ^ The Blaze
  15. ^ EconIntersect.com
  16. ^ Baltimore Sun
  17. ^ CNBC's Worldwide Exchange
  18. ^ PRweb. "George Jarkesy Show". Retrieved January 5, 2012.
  19. ^ PRweb. "George Jarkesy Show". Archived from the original on May 25, 2012. Retrieved May 10, 2012.
  20. ^ PRweb. "George Jarkesy Show". Archived from the original on June 13, 2012. Retrieved June 4, 2012.
  21. ^ Congressman Kevin Brady
  22. ^ Congressman Randy Weber
  23. ^ Senator Chuck Schumer
  24. ^ Charlie Daniels
  25. ^ Dr. Thomas Sowell
  26. ^ and Senator Doctor Tom Coburn
  27. ^ "SEC Charges Houston Hedge Fund Manager With Fraud".
  28. ^ "Hedge Fund Manager Said by SEC to Steer Bloated Fees to Belesis". Archived from the original on 2013-03-27.
  29. ^ Kalvis, Golde (March 31, 2023). "Another federal agency challenges adverse ruling by 5th Circuit". ScotusBlog.
  30. ^ "The Case That Could Destroy the Government". The Atlantic. 27 November 2023. Retrieved 27 November 2023.
  31. ^ "Justices limit major SEC tool to penalize fraud". SCOTUSblog. 2024-06-28. Retrieved 2024-07-12.
  32. ^ Quinn, Melissa (2024-06-27). "Supreme Court strips SEC of key enforcement power to penalize fraud - CBS News". www.cbsnews.com. Retrieved 2024-07-12.
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