A Fort Lauderdale funding advisor has been arrested and charged in reference to a multi-million-dollar Ponzi scheme that defrauded traders — primarily from Venezuela — of greater than $94 million, federal prosecutors introduced Friday.
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Andrew Hamilton Jacobus, 64, was taken into custody by federal brokers with out incident and has made his preliminary court docket look. He faces expenses of wire fraud and cash laundering, every carrying a most sentence of 20 years in jail.
In line with a federal indictment unsealed within the Southern District of Florida, Jacobus falsely introduced himself as an skilled monetary advisor managing legit funding portfolios. Prosecutors say he as a substitute used shopper funds to finance his private life-style and to repay earlier traders in a traditional Ponzi scheme.
Between 2019 and 2023, Jacobus allegedly solicited funds via corporations he managed, together with Kronus Monetary Company and Finser Worldwide. He’s accused of luring traders with guarantees of excessive returns and safe investments, whereas secretly creating solid account statements and falsified paperwork to cover the misuse of funds. Authorities say investor cash was funneled into luxurious purchases and unrelated ventures.
The fees had been introduced by U.S. Legal professional Hayden P. O’Byrne and Emmanuel Gomez, Particular Agent in Cost of the IRS Felony Investigation’s Miami Subject Workplace.
Assistant U.S. Legal professional Robert F. Moore is main the prosecution. If convicted, Jacobus might additionally face asset forfeiture and be ordered to pay restitution to victims.
