United States of America v. Joshua McDonald

St. Louis, MO: Wire fraud criminal defense lawyer represented Defendant, Joshua McDonald.

McDonald was the owner and operator of Perfection PR Firm LLC, that conducted business in the Eastern District of Missouri. McDonald told potential and actual clients that Perfection PR traded in the Foreign Exchange Market (Forex) for clients by pooling their funds.



McDonald was not registered as a broker-dealer, broker-dealer agent, investment advisor, investment advisor representative, or an issuer agent as required by FINRA (Financial Industry Regulatory Authority).



Beginning in November 2017 and continuing to June 2019, McDonald devised a scheme to defraud and to obtain money by means of materially false and fraudulent pretenses, representations and promises. McDonald falsely told prospective clients that he would provide a minimum of 20% to 50% return per month on their Forex investments. McDonald further falsely told investors that they had made substantial gains in their Forex investments with him when, in fact, he had used their funds on his own personal expenses and, without their knowledge or consent, invested and lost their funds in cryptocurrency. McDonald directed investors to deposit their Forex investments funds, primarily through wire transfers, into his personal bank account or the Perfection PR bank account. McDonald caused over $350,000 in loss to numerous victims of his scheme.



The Federal Bureau of Investigation investigated the case.

The defendant was committed to the custody of the United States Bureau of Prisons to be imprisoned for a total term of: 27 month(s). This term consists of a term of 27 months on each of counts one through four, all such terms to be served concurrently. Upon release from imprisonment, the defendant shall be on supervised release for a term of: three (3) years. This term consists of a term of three years on each of counts one through four, all such terms to run concurrently. Restitution ordered in the amount of $350,585.21. Special Assessment of $400.00 due immediately.