Financial Advisor Sentenced to 20 Years in $94 Million Ponzi Scheme

Andrew Hamilton Jacobus defrauded over 150 investors across multiple countries in a decades-long investment scam.

Published on Feb. 5, 2026

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A 64-year-old financial advisor from Fort Lauderdale, Florida named Andrew Hamilton Jacobus has been sentenced to 20 years in federal prison after pleading guilty to running a $94 million Ponzi scheme that defrauded over 150 investors, including lawyers, doctors, members of the Venezuelan Archdiocese, former employees, and even some of his own relatives.

Why it matters

This case highlights the ongoing threat of Ponzi schemes targeting vulnerable investors, even those with significant financial resources. It also underscores the need for stronger oversight and regulation of the financial advising industry to protect consumers from predatory practices.

The details

Over a decades-long period, Jacobus managed legitimate investment portfolios while misappropriating the money for his own use and to pay back earlier investors as if the payments were their returns. Through his companies, Finser International Corporation and Kronus Financial Corporation, he claimed to be investing the funds in 'various lucrative investments' like Certificates of Deposit and company shares, but was actually using the money for his own personal expenses and to perpetuate the Ponzi scheme.

  • Jacobus began his career in financing in the 1990s.
  • The Ponzi scheme spanned over a decade, from at least 2012 to 2026.
  • Jacobus pleaded guilty in November 2026.
  • Jacobus was sentenced on Monday, February 5, 2026.

The players

Andrew Hamilton Jacobus

A 64-year-old financial advisor from Fort Lauderdale, Florida who pleaded guilty to running a $94 million Ponzi scheme that defrauded over 150 investors.

Finser International Corporation

A company founded by Jacobus that he used as part of the Ponzi scheme.

Kronus Financial Corporation

Another company founded by Jacobus that he used as part of the Ponzi scheme.

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What’s next

The judge will determine whether any of Jacobus' assets can be seized and returned to the victims of the Ponzi scheme.

The takeaway

This case serves as a stark reminder of the importance of thoroughly vetting financial advisors and investment opportunities, as even experienced investors can fall victim to sophisticated fraud schemes. It also highlights the need for stronger regulations and oversight in the financial advising industry to protect consumers from predatory practices.