A 37-year-old Florida man is facing federal securities fraud charges after officials say he ran a Ponzi scheme that drained more than $2 million from roughly 27 investors across Alabama and other states. Jedidiah Michael Josiah Harris of Sanford, Florida was indicted in U.S. District Court, and a plea agreement filed alongside the indictment indicates he has agreed to plead guilty, though no court date has yet been set for him to formally enter that plea.
According to WBRC, officials say Harris operated the scheme between 2022 and 2025, using two companies he controlled, The Invictus Group, LLC and Pivot Global Analytic, LLC, to carry it out. Investigators allege Harris presented himself as a successful investor and options trader capable of generating unusually high returns for his clients, reportedly promising monthly returns ranging from 10% to 40%.
Money Used for Personal Purposes, Officials Say
Rather than investing the funds as promised, officials say Harris used client money for personal purposes. The station's report states that he defrauded approximately 27 victims of more than $2 million in total. U.S. Attorney Phillip Williams Jr. said protecting investors and maintaining confidence in financial markets remain important priorities for his office, and he commended the Alabama Securities Commission for its investigative work and partnership in the case.
Assistant U.S. Attorney Ryan Niedermair said his office will hold accountable those who exploit hard-working Americans for personal gain. FBI Birmingham Special Agent in Charge David R. Fitzgibbons said Harris preyed on 27 investors and stole more than $2 million through what he described as a deliberate Ponzi scheme, adding that the FBI will continue to pursue people who commit financial fraud. Fitzgibbons also said the Alabama Securities Commission partnered with the FBI on the investigation.
State Regulator Urges Caution on High-Return Promises
Alabama Securities Commission Director Amanda Senn said Harris conned residents of Alabama and other states out of more than $2 million using false information and promises of unusually high returns. She warned that any promise or guarantee of high investment returns should raise immediate red flags for potential investors.
Senn said her agency will work tirelessly with other law enforcement agencies at the federal and local level to ensure that the criminal pays for the crime, regardless of where that person is located. The case was also detailed in a release from the U.S. Attorney's Office for the Northern District of Alabama, which identifies the charge as securities fraud tied to the alleged 2022-to-2025 scheme. No date has been set for Harris to enter his plea.
