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

Guavy AI Editorial Team
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The US Commodity Futures Trading Commission (CFTC) has accused Goliath Ventures and its CEO, Christopher Delgado, of running a massive crypto fraud scheme.

The regulator claims that the defendants took in $397 million from about 1,600 customers, promising them returns on Bitcoin and Ether trades.

However, the CFTC alleges that Goliath misappropriated customer funds, using money from new customers to create the appearance of profits. Delgado is accused of using customer funds to pay for his lifestyle, while sending fake statements to investors showing non-existent profits.

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