Andrew H. Jacobus “induced” dozens of Venezuelans and a Catholic dioceses to invest $94 million into investments that constituted a Ponzi scheme. This information was initially reported in the Miami Herald. Jacobus is now facing wire-fraud and Money-laundering charges in federal court in Miami.
Jacobus promised returns of 12% to 15% in safe investments such as certificates of deposit or other fixed income investments. Instead, Jacobus stole most of the funds and the funds he did not steal did not generate the returns he represented.
This is not the first run-in between Jacobus and the SEC. Jacobus previously worked as a registered investment advisor representative for Finser International Corp. SEC records indicate that Jacobus worked for Finser from 2010 to 2021 as its sole proprietor and owner. In 2020, the SEC issued a cease and desist letter to Finser and Jacobus.
From January 2015 through September 2017, Finser and Jacobus managed the $8 million Corfiser SIMI Fund B.V., a private fund. During this period, contrary to representations made in fund documents, Finser and Jacobus charged the Fund approximately $51,000 in performance fees. The SEC censured the two and fined them $70,000.
Recent Comments