A Fort Lauderdale financial advisor has pleaded guilty to a years-long international investment scheme that defrauded investors out of more than $94 million, authorities said.
Andrew Hamilton Jacobus, 64, pleaded guilty to wire fraud and money laundering charges on Nov. 14, the U.S. Attorney’s Office for the Southern District of Florida said Thursday.
Prosecutors said Jacobus falsely portrayed himself as a seasoned financial advisor managing legitimate investment portfolios.
Between 2004 and 2023, he solicited funds through multiple corporations, promising access to secure investment products and high-yield returns.
But the reality was Jacobus was forging account statements, falsifying documentation and diverting client funds for “luxury personal expenditures” and to pay returns to earlier investors in classic Ponzi-scheme fashion, prosecutors said.
The scheme defrauded international investors who were primarily Venezuelan nationals.
Jacobus faces a maximum of 20 years in federal prison for each count.