In a victory for victims of financial fraud, a Miami federal court has delivered a stern message to those who prey on trusting investors. On February 2, 2026, Andrew Jacobus, a 64-year-old investment advisor, was sentenced to 20 years in prison for orchestrating a decades-long Ponzi scheme that defrauded over 100 individuals, many of them Venezuelan immigrants and retirees, out of approximately $94 million.
This case underscores the devastating impact of fraud and the relentless pursuit of justice by dedicated legal advocates.
The Scheme Unraveled: A Tale of Deception and Betrayal
According to the Miami Herald, Andrew Jacobus operated through his companies, Finser International Corp. and Kronus Financial Corp., based in Coral Gables, Florida. From 2004 to 2024, he lured investors with promises of high returns, typically 12-15% annually, on supposedly secure fixed-income investments like certificates of deposit. Targeting vulnerable Venezuelans fleeing economic turmoil in their home country, Jacobus exploited their trust, including that of a nonprofit supporting Catholic priests’ retirement and healthcare needs.
The fraud followed a classic Ponzi model: New investors’ funds were used to pay returns to earlier ones, while Jacobus siphoned off millions for personal luxuries, such as a multimillion-dollar condo in Coconut Grove, a down payment on his son’s home, and care for his ailing girlfriend. To maintain the illusion, he fabricated account statements showing inflated balances. The scheme collapsed in 2022 when victims reported suspicions to federal authorities, triggering an IRS investigation and a grand jury indictment.
Jacobus pleaded guilty in November 2025 to wire fraud and money laundering. During his sentencing hearing, U.S. District Judge Jacqueline Becerra condemned his actions, noting the “enormous amount of pain” and “loss” inflicted on victims. Victims, including mechanical engineer Fermin Suarez, plastic surgeon Manuel Egea, and others, shared heartbreaking testimonies of lost life savings, shattered retirements, and disrupted family futures. Jacobus himself expressed remorse, admitting he had “betrayed” those who trusted him.
A restitution hearing is scheduled for May 26, 2026, where prosecutors hope to recover remaining funds for the victims. While the prison sentence provides some closure, many victims continue to grapple with the financial fallout.
Michael Padula’s Tireless Fight for Victim Justice
At the forefront of this battle for accountability has been our attorney, Michael Padula, founder of Padula Law, who represented several victims in civil lawsuits against Jacobus. Attorney Padula filed three key suits on behalf of clients, including Fermin Suarez, Tubalcain Morales, and Manuel Egea, securing significant settlements and judgments. For instance, Suarez obtained an $18.5 million settlement, Morales a $650,000 agreement, and Egea a $30 million judgment for his $9.5 million investment.
Attorney Padula’s advocacy extended beyond the courtroom; he has been a vocal champion for those affected, emphasizing that Jacobus “is finally being held accountable and is paying the price for his financial crimes against people who did nothing more than trust him.” Praising the court’s decision to impose the maximum sentence, Padula noted, “While today’s sentencing cannot rectify the irreparable harm he caused to retirees, business owners, and even clergy, we are grateful that Mr. Jacobus will no longer be able to fleece the public.”
Through strategic litigation and unwavering commitment, Michael Padula has helped restore a measure of dignity to victims who felt powerless against a sophisticated fraudster. His efforts highlight Padula Law’s dedication to pursuing what is right in complex financial fraud cases, ensuring that victims receive justice.
How Padula Law Can Help You in Similar Situations
Financial fraud can devastate lives, but you don’t have to face it alone. At Padula Law, we represent victims of investment scams, Ponzi schemes, and other white-collar fraud. Our approach is comprehensive: We conduct thorough investigations, file civil lawsuits to recover lost assets, and collaborate with federal authorities when necessary to strengthen criminal cases.
If you’ve been defrauded by an investment advisor or similar entity, Padula Law can:
- Assess Your Case: Provide a free initial consultation to evaluate your situation and potential for recovery.
- Pursue Civil Remedies: Seek judgments, settlements, and asset freezes to reclaim your funds, even as criminal proceedings unfold.
- Advocate for Maximum Accountability: Work tirelessly to ensure wrongdoers are held responsible, drawing on our experience in high-stakes litigation.
- Support Throughout the Process: Offer compassionate guidance, from navigating emotional trauma to coordinating with experts in forensic accounting and fraud detection.
Our track record in cases like the Jacobus scheme demonstrates our ability to deliver results. Whether you’re dealing with unauthorized transactions, misleading investment advice, or outright theft, Padula Law is equipped to fight for the justice and compensation you deserve.
If you suspect you’ve been a victim of financial fraud, contact Padula Law today for a confidential consultation. Together, we can turn the tide and rebuild what was taken from you.