June 15, 2024

In Florida, a state judge has ratified an eight-figure settlement for a client who allegedly lost millions from a suspected $200 million Ponzi scheme. This vast scheme primarily affected Venezuelan investors and was led by an investment advisor and a broker.

The plaintiff, Ferminz Suarez, is represented by Michael Padula from Padula Law in Miami. Suarez is said to have been swindled out of nearly $22 million by the defendant, Andrew Jacobus. Jacobus is the sole owner and operator of both FINSER International Corp. and FISNER Asset Management LLC.

![Michael Padula of Padula Law. (Courtesy photo)](https://investmentshoax.com/wp-content/uploads/2024/06/Michael-Padula-Vert-202309281054.jpg)

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Frequently Asked Questions

What exactly is a Ponzi scheme?

A Ponzi scheme is a type of investment fraud where the operator pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate investments.

How can one spot a Ponzi scheme?

Ponzi schemes often promise high financial returns or dividends that are not available through traditional investments. These returns are paid to initial investors using funds contributed by subsequent investors, creating the illusion of a legitimate business.

What are the potential consequences for someone involved in a Ponzi scheme?

Involvement in a Ponzi scheme can result in severe legal and financial consequences. Those orchestrating the scheme can face criminal charges with substantial fines and potentially long prison terms. Meanwhile, investors usually lose all or most of their money.