Andrew Hamilton Jacobus, a financial advisor from Fort Lauderdale, received a 20-year sentence on Monday for his role in a massive investment fraud scheme. Jacobus, 64, admitted guilt to charges of wire fraud and money laundering, which contributed to an international deception that swindled over $94 million from investors, many of whom hailed from Venezuela, as reported by the U.S. Attorney’s Office for the Southern District of Florida.
With a guilty plea already under his belt, Jacobus faced the consequences handed down by U.S. District Judge Jacqueline Becerra. The substantial duration of his fraud, which spanned decades and continents, was emphasized by U.S. Attorney Jason A. Reding Quiñones, who remarked in a statement obtained by the Justice Department website, “This was a $94 million international fraud built on lies and broken trust.” Quiñones also noted, “The defendant preyed on families, professionals, and faith-based institutions across our community and beyond. At 64 years old, he was sentenced to 20 years in federal prison. That sentence reflects the real harm to victims and sends a clear message: sophisticated financial fraud will be exposed and punished in South Florida.”
The Justice Department recounted how, after completing his engineering education, Jacobus transitioned into finance in the early 1990s. He managed to project the image of a seasoned financial advisor, luring investors towards Kronus Financial Corporation and Finser International Corporation. Through these entities, he made empty promises of secure products and high yields, while in reality, he fabricated account statements, falsified financial documentation, and misdirected client funds for personal luxuries and unrelated business ventures…