CFTC Sues Florida Firm Over Alleged $397M DeFi Ponzi Scheme

The US Commodity Futures Trading Commission (CFTC) has sued Goliath Ventures Inc. and its CEO, Christopher Delgado, for allegedly running a $397 million Ponzi scheme in the decentralized finance (DeFi) market.

Goliath promised customers high returns by placing their Bitcoin and Ether in DeFi liquidity pools, but instead used customer funds to pay other investors, recruit new customers, and fund lavish personal expenses for Delgado.

The CFTC alleges that Goliath ran the scheme from November 2022 to February 2026, misappropriating all customer funds while issuing false account statements to make it appear as though profits had been earned.

A total of $87 million was used to pay other customers, $174 million went to recruiter commissions, and $48 million was spent on Delgado's personal expenses, including luxury homes, vehicles, and jewelry.