A Fort Lauderdale financial advisor has been sentenced to 20 years in federal prison for running a massive Ponzi scheme that defrauded investors out of more than $94 million over nearly two decades.
Andrew Hamilton Jacobus, 64, received the sentence on Monday from U.S. District Judge Jacqueline Becerra in Miami. He had pleaded guilty in November 2025 to charges of wire fraud and money laundering, according to the U.S. Attorney’s Office for the Southern District of Florida.
Jacobus presented himself as an experienced financial advisor who could deliver high returns through safe investments. Starting in the early 2000s and continuing until 2023 or 2024, he used two companies he controlled—Finser International Corporation and Kronus Financial Corporation—to attract money from clients. He promised strong returns on products like certificates of deposit and company shares, often claiming rates well above market averages.
In reality, it was a classic Ponzi scheme. Jacobus did not invest the funds as promised. Instead, he forged account statements, created fake documents, and used new investors’ money to pay “returns” to earlier ones. He also diverted large amounts for his own luxury personal spending. This created the illusion of success while the scheme grew.
The fraud affected more than 150 investors, many of them Venezuelan nationals living in South Florida or abroad. Victims included professionals such as doctors and lawyers, members of the Venezuelan Catholic Church (including a nonprofit that supported priests with health and retirement funds), former employees, and even some of Jacobus’s own family members. One example involved a Venezuelan Catholic nonprofit that invested over $4 million with him starting around 2006. Jacobus later admitted in a resignation letter that he owed them more than $6 million, after misusing their money for himself and to pay other clients.
Prosecutors described the scheme as built on lies and broken trust. U.S. Attorney Jason A. Reding Quiñones stated that it preyed on families, professionals, and faith-based groups in the community and internationally. At the sentencing hearing, about 100 victims appeared in person or remotely—some from South Florida, others from Venezuela and Spain—to witness the outcome.
The 20-year sentence represents the maximum penalty for the wire fraud count (with a concurrent term for money laundering). It sends a strong message that sophisticated financial fraud will face serious consequences in South Florida. Jacobus will also serve three years of supervised release after prison and must pay restitution to victims, with a hearing set for later in 2026.
This case highlights the dangers of unregulated or unchecked investment opportunities, especially those promising unusually high returns with little risk. Authorities urge investors to verify advisors thoroughly and report suspicious activity.
