A Fort Lauderdale man pleaded responsible on Nov. 14 to costs arising from a years-long scheme that defrauded worldwide traders—primarily Venezuelan nationals—of greater than $94 million.
In accordance with courtroom paperwork, Andrew Hamilton Jacobus, 64, falsely portrayed himself as a seasoned monetary advisor managing professional funding portfolios, whereas misappropriating investor funds for private use and to pay returns to earlier traders in basic Ponzi-scheme vogue.
Between 2004 and 2023, Jacobus solicited funds by means of entities beneath his management, together with Kronus Monetary Company and Finser Worldwide Company, promising entry to safe funding merchandise and high-yield returns. In actuality, Jacobus cast account statements, falsified documentation, and diverted consumer funds to luxurious private expenditures and Ponzi funds.
Jacobus pleaded responsible to wire fraud and cash laundering. He faces a most penalty of 20 years in federal jail for every rely. A federal district courtroom choose will decide a sentence after contemplating the U.S. Sentencing Pointers and different statutory components.
U.S. Lawyer Jason A. Reding Quiñones for the Southern District of Florida and Particular Agent in Cost Ronald A. Loecker of the IRS Felony Investigation (IRS-CI), Florida Area Workplace, made the announcement.
IRS-CI is investigating the case.
Assistant U.S. Lawyer Robert F. Moore is prosecuting. Assistant U.S. Lawyer Mitch Hyman is dealing with asset forfeiture.
