A Fort Lauderdale financial advisor preyed on vulnerable Venezuelan nationals for nearly two decades, stealing over $94 million in a massive Ponzi scheme that exploited immigrants seeking financial security in America.
Story Highlights
Andrew Hamilton Jacobus ran a $94 million Ponzi scheme targeting Venezuelan investors from 2004-2023.
The 64-year-old advisor used fake entities to promise high returns while funding personal luxuries.
Jacobus pleaded guilty to wire fraud and money laundering, facing up to 40 years in federal prison.
The scheme exploited vulnerable immigrants seeking legitimate investment opportunities.
Two-Decade Fraud Targeting Vulnerable Immigrants
Andrew Hamilton Jacobus operated his fraudulent scheme through shell companies Kronus Financial Corporation and Finser International Corporation from 2004 to 2023. The 64-year-old advisor specifically targeted Venezuelan nationals, exploiting their trust and vulnerability as immigrants seeking legitimate investment opportunities. Court documents reveal Jacobus falsely presented himself as an experienced financial professional managing secure investment portfolios while systematically stealing client funds for personal use and earlier investor payouts.
Classic Ponzi Operations with Forged Documentation
Federal prosecutors detailed how Jacobus maintained his elaborate deception by forging account statements and falsifying investment documents. He promised clients access to secure investment products with high yields, using new investor money to pay earlier clients in a typical Ponzi scheme. The fraudulent advisor diverted millions in client funds to finance his luxury lifestyle while creating fake paperwork to maintain the illusion of legitimate investment management and profitable returns.
Federal Justice System Delivers Accountability
Jacobus pleaded guilty to wire fraud and money laundering charges on November 14, 2025, facing a maximum penalty of 20 years in federal prison for each count. The U.S. Attorney’s Office for the Southern District of Florida successfully prosecuted the case, demonstrating federal commitment to protecting investors from sophisticated financial crimes. A federal judge will determine Jacobus’s final sentence after considering U.S. Sentencing Guidelines and other relevant factors in the case.
Protecting American Investment Markets
This case highlights the importance of robust financial oversight and investor protection, particularly for vulnerable immigrant communities seeking legitimate investment opportunities. The successful prosecution demonstrates how federal authorities work to maintain market integrity and hold fraudsters accountable for exploiting trust-based relationships. Venezuelan nationals and other international investors deserve the same protections as American citizens when participating in U.S. financial markets, making this conviction a victory for justice and market stability.
