CFTC Cracks Down on Goliath Ventures Over Alleged $397M Crypto Fraud Scheme

The US Commodity Futures Trading Commission (CFTC) has accused Goliath Ventures and its CEO, Christopher Delgado, of running a crypto fraud scheme that allegedly took in $397 million from about 1,600 customers.

Regulators claim customer funds were misused and fake profits were reported to investors. The CFTC alleges that Goliath misappropriated customer funds and used money from new customers to create the appearance of profits.

The agency also accuses Delgado of using customer funds to pay for his lifestyle, promising customers returns and sending statements showing profits that did not exist.