BIRMINGHAM, ALA. — This is an official press release from the U.S. Department of Justice (Federal Bureau of Investigation (FBI)), published as received.
BIRMINGHAM, Ala. – A Florida man has been charged with securities fraud for his role in a Ponzi scheme that defrauded investors, announced Phillip W. Williams Jr., United States Attorney, Amanda Senn, Director of the Alabama Securities Commission, and David R. Fitzgibbons, Special Agent in Charge for the FBI Birmingham Division.
A one-count information filed in U.S. District Court charges Jedidiah Michael Josiah Harris, 37, of Sanford, Florida, with securities fraud. A plea agreement was filed with the information, indicating that Harris has agreed to plead guilty.
According to the information and plea agreement, between 2022 and 2025, Harris operated a Ponzi scheme that defrauded investors in Alabama and elsewhere. During this time, Harris used two companies that he controlled – The Invictus Group, LLC and Pivot Global Analytic, LLC – to execute the scheme. As part of the scheme, Harris presented himself as a successful investor and options trader who could earn unusually high returns for his clients through his investment strategies. In his pitch to the investors, Harris represented that their investments would be pooled with his funds, as well as funds from other investors, and invested in options pertaining to the S&P 500. Furthermore, he falsely claimed that they would receive anywhere from 10% to 40% return per month. Additionally, Harris sent investors fraudulent monthly statements reflecting extraordinary returns their investments had earned. However, Harris did not invest the clients’ money as he had promised and instead used the clients’ money for personal use. Over the course of the scheme, Harris defrauded approximately 27 victims of a total of over $2 million.
The Court will set a date for Harris to enter his guilty plea.
A Ponzi scheme is a type of financial fraud in which the perpetrator claims to pay returns to his investor clients on some promised investment strategy but does not invest the clients’ money as promised and instead pays one investor from money that another “invested.”
“Protecting investors and maintaining confidence in our financial markets are important priorities,” said U.S. Attorney Williams. “We commend the Alabama Securities Commission for its thorough investigative work and strong partnership with our office. We are grateful for the dedication and collaboration of all involved in this case.”
“Our office will hold accountable anyone who takes advantage of hard-working Americans for their personal gain, and this prosecution is an example of that,” said Assistant U.S. Attorney Ryan Niedermair.
“Jedidiah "Jay" Harris preyed on 27 investors and stole more than $2 million through a deliberate and calculated Ponzi scheme,” said David R. Fitzgibbons, Special Agent in Charge, FBI Birmingham. “Targeting hardworking individuals for personal gain is unacceptable, and the FBI will continue to pursue those who commit financial fraud. We appreciate the Alabama Securities Commission's strong partnership as we work to hold offenders accountable and protect the investing public.”
“Jedidiah Michael Harris’ callous disregard for the welfare of others was in full display while he conned residents of Alabama and other states out of over $2 million. He gained their confidence by using false information and promising returns that were too good to be true. Anytime someone promises or guarantees high returns on investments, red flags should go up immediately,” said Alabama Securities Commission Director Amanda Senn. “If someone defrauds Alabama investors, we will work tirelessly with other law enforcement agencies at the federal and local level to ensure that the criminal pays for their crime, regardless of where they are located.”
The FBI and the Alabama Securities Commission investigated the case. Assistant United States Attorneys Ryan P. Niedermair and John B. Ward are prosecuting the case with assistance from Alabama Assistant Attorneys General Steve Feaga and George Martin.
An information contains only charges. A defendant is presumed innocent unless and until proven guilty.
