SEC Files Securities Fraud Charges in South Florida; Alleges Misappropriation of Over $17 Million
On May 27th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against Andrew H. Jacobus and two companies (Kronus Financial Corporation and Finser International Corporation). The federal regulator alleges that Mr. Jacobus misappropriated more than $17 million from investors through these two companies. Here, our Miami securities fraud attorney provides an overview of the investment fraud case.
SEC Complaint: Kronus Financial Corporation, Finser International Corporation, Andrew H. Jacobus
In the United States District Court for the Southern District of Florida, the SEC announced securities fraud charges against two companies (Kronus Financial and Finser International) as well as the principal of those entities, Andrew H. Jacobus. Kronos Financial was a Florida-based corporation with its principal place of business in Miami. Finser International was a Florida corporation with its principal place of business in Coral Gables. Mr. Jacobus is a resident of Fort Lauderdale.
According to the allegations raised by the SEC in the complaint, Mr. Jacobus used the investment entities to raise nearly $40 million from investors under the false pretenses that they were investing in initial public offerings (IPOs) and high-yield funds. However, the SEC contends that these investors—at least 40, most of whom were elderly and/or Venezuelan nationals—were given fake account statements. In reality, the investor funds were shifted around in a Ponzi-like manner. Further, the SEC alleges that Mr. Jacobus misappropriated more than $17 million from investors.
SEC is Seeking All Appropriate Sanctions and Remedies
As part of its complaint, the SEC accuses the defendants of violating multiple federal securities laws, including Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. The federal agency is seeking an immediate emergency injunction to protect investors, civil financial penalties against Mr. Jacobus and the two investment entities, disgorgement, and the repayment of restitution plus prejudgment interest.
Misappropriation of Funds Can Cause Serious Harm to Investors
Unfortunately, investment fraud remains a very serious problem in Florida and throughout the country. The misappropriation of funds can have terrible consequences for investors—especially those who are elderly, vulnerable, or rely on professional advisers for financial guidance. Brokers, brokerage firms, and others who commit fraud must be held accountable. When trusted people and/or firms misuse investor money, victims may lose life savings. It is imperative that investors take a proactive approach to stop fraud before too much damage can be done and to take action to get justice and compensation for their damages.
Consult With Our Miami Securities Fraud Lawyer Today
At Carlson & Associates, P.A., our Miami investment fraud attorney fights aggressively to protect the rights and interests of investors. We have helped investors secure millions of dollars in financial compensation for illegitimate losses. If you suffered financial losses due to misappropriation of funds, we are here to help. Our firm fights hard for justice for investors in South Florida and beyond.
Source:
sec.gov/enforcement-litigation/litigation-releases/lr-26317
