Fort Lauderdale Advisor Arrested Over $94M Ponzi Scheme Targeting Venezuelan Investors

Andrew Hamilton Jacobus, a 64-year-old investment advisor from Fort Lauderdale, has been arrested and charged with wire fraud and money laundering for orchestrating a Ponzi scheme that defrauded Venezuelan investors and other clients of more than $94 million. Between 2019 and 2023, Jacobus used companies he controlled, including Kronus Financial Corporation and Finser International, to lure investors with promises of high returns while diverting funds to luxury personal expenses and to pay earlier investors. The scheme involved forging account statements and falsifying documents to conceal the fraud. Jacobus faces up to 20 years in prison on each charge, alongside potential asset forfeiture and restitution to victims. The case is being prosecuted by Assistant U.S. Attorney Robert F. Moore, with the indictment and court documents available through the Southern District of Florida U.S. Attorney’s Office and District Court websites. Additionally, the Securities and Exchange Commission has filed a civil lawsuit against Jacobus and his companies for similar fraud allegations.