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.
Special Agent in Charge Ron Loecker of IRS Criminal Investigation's Florida Field Office highlighted the harm inflicted by the defendant, explaining, "Greed was Jacobus’s greatest tool — paired with a computer and a phone, it fueled a scheme that stole millions and shattered lives." Loecker reassured that the IRS' meticulous efforts to expose financial fraud are unwavering, vowing justice for the victims, according to the Justice Department website.
The impact of Jacobus’ scheme was far-reaching, with more than 150 investors defrauded, including individuals in South Florida, Venezuela, and Spain. Victims encompassed a wide array of community members, from legal professionals to members of the clergy, even extending to former employees and Jacobus' own relatives. The significance of his conviction was underscored at the sentencing hearing, where over 20 individuals presented their grievances, accompanied by another 80 participating remotely, illustrating a patchwork of lives torn apart by deceit.
Assistant U.S. Attorney Robert F. Moore spearheaded the prosecution, with Assistant U.S. Attorney Mitch Hyman responsible for asset forfeiture. Investigations were meticulously carried out by the IRS-CI, Florida Field Office. Documents and further case-related information are publicly accessible via the District Court for the Southern District of Florida's website.
