$94 MILLION Ponzi Scheme EXPOSED

A Fort Lauderdale financial advisor pleaded guilty to orchestrating a massive $94 million Ponzi scheme that preyed on vulnerable Venezuelan investors fleeing their nation’s economic collapse, highlighting how fraudsters exploit desperate families seeking financial security in America.

Story Snapshot

• Andrew Hamilton Jacobus ran a 20-year Ponzi scheme targeting Venezuelan nationals for $94 million.
• The 64-year-old advisor used fake companies 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 in America.

Decades-Long Deception Targets Venezuelan Nationals

Andrew Hamilton Jacobus operated his fraudulent scheme from 2004 to 2023, specifically targeting Venezuelan investors through his controlled entities Kronus Financial Corporation and Finser International Corporation. The 64-year-old falsely presented himself as an experienced financial advisor managing legitimate investment portfolios. Court documents reveal that he promised access to secure investment products with high yields, exploiting the trust of families seeking financial stability.

Fort Lauderdale Financial Advisor Pleads Guilty to $94 Million International Investment Fraud Scheme
🔗: https://t.co/CtmcXTq3Hi@IRSCI_Miami pic.twitter.com/7aAmAVktDN

— US Attorney Reding Quiñones (@USAO_SDFL) November 20, 2025

Classic Ponzi Structure Funded Lavish Lifestyle

Federal prosecutors detailed how Jacobus employed traditional Ponzi scheme tactics, using new investor funds to pay returns to earlier participants while diverting millions for personal luxury expenses. He systematically forged account statements and falsified financial documents to maintain the illusion of legitimate investment activity. This deceptive practice allowed him to sustain the fraud for nearly two decades while enriching himself at victims’ expense.

Justice Served Under Trump Administration Priorities

Jacobus pleaded guilty to wire fraud and money laundering charges on November 14, 2025, marking a significant victory for financial crime enforcement under the Trump administration’s renewed focus on protecting American investors and legal immigrants. Each count carries a maximum penalty of 20 years in federal prison, potentially resulting in a total of 40 years of incarceration. The successful prosecution demonstrates the administration’s commitment to prosecuting financial predators who exploit vulnerable communities.

Federal sentencing guidelines will determine Jacobus’s final punishment, with judges considering the scope of his crimes and impact on victims. The case underscores the importance of rigorous financial oversight and investor protection, particularly for immigrant communities who may be less familiar with American regulatory protections. This prosecution sends a clear message that financial fraud targeting any community, especially vulnerable populations, will face the full force of federal justice.