Home / Crime and Justice / Florida Man Admits $94M Ponzi Scheme
Florida Man Admits $94M Ponzi Scheme
29 Nov, 2025
Summary
- Florida man pleaded guilty to defrauding investors of $94 million.
- Scheme victimized international investors, including a nonprofit.
- The fraudster faces up to 20 years in prison and restitution.
Andrew Hamilton Jacobus, a 64-year-old from Fort Lauderdale, has pleaded guilty to wire fraud and money laundering charges connected to a sprawling Ponzi scheme. This elaborate fraud, spanning from 2004 to 2023, defrauded international investors of more than $94 million.
Prosecutors revealed that Jacobus preyed on several clients, primarily Venezuelan nationals. Among the victims was a nonprofit organization dedicated to the retirement and healthcare of Venezuelan Catholic priests. He misrepresented himself as a seasoned financial advisor, diverting investor funds for personal use and to sustain the scheme's facade.
Jacobus now faces up to 20 years in federal prison for each count. He is also mandated to repay his victims and assist in recovering the stolen funds, as his elaborate deception finally unravels.
