Andrew H. Jacobus

The Securities and Exchange Commission (SEC) has filed a civil complaint against Andrew H. Jacobus and his advisory firms, Kronus Financial Corporation and Finser International Corporation, for allegedly misappropriating more than $17 million from 40 clients, many of whom were Venezuelan nationals, elderly individuals, and religious organizations.

According to the SEC’s complaint, from May 2015 through April 2024, Jacobus raised nearly $40 million from advisory clients under the pretense of investing in securities, including the Corfiser SIMI Fund (later known as the Kronus High Yield Fund) and initial public offerings. Clients were offered limited partnership interests and were told their money would be invested in legitimate financial products. Instead, Jacobus and his firms allegedly sent false account statements reflecting fictitious holdings and used client funds for personal expenses and unrelated payments.

The SEC further alleges that Jacobus used millions of investor dollars to fund personal luxuries, including his mortgage, travel, real estate purchases, and luxury vehicles. In addition, he is accused of using approximately $7.8 million of client funds to make Ponzi-like payments to other investors in an attempt to sustain the scheme.

The SEC is seeking permanent injunctions, disgorgement, civil penalties, and a conduct-based injunction against Jacobus.

If you invested with Kronus Financial Corporation, Finser International Corporation, or Andrew H. Jacobus and suspect you suffered losses, contact ChapmanAlbin today. Our experienced securities attorneys represent investors nationwide in recovering losses due to investment fraud and adviser misconduct.

Call (877) 410-8172 or visit www.chapmanalbin.com to schedule a free consultation.