Goliath Ventures and CEO Face Regulator Action Over Alleged Crypto Ponzi Scheme
Regulators in the US have taken action against Goliath Ventures and its CEO, Christopher Alexander Delgado, over allegations of running a crypto Ponzi scheme. The company raised hundreds of millions of dollars from investors by promising monthly returns of 3% to 10% through crypto asset trading and liquidity pools.
The SEC alleges that the company operated the scheme from at least January 2023 through January 2026, claiming it was an unregistered securities offering. The regulators say that funds from new and existing investors were used to pay promised returns to earlier investors, rather than being invested in the liquidity pools as claimed.
The CEO allegedly took $51 million for personal use, including luxury vehicles, homes, a yacht, and travel. Delgado has agreed to a bifurcated settlement with the SEC, subject to court approval, which includes being permanently barred from certain securities transactions and acting as or being associated with a broker or dealer.
The CFTC also filed a complaint against Goliath Ventures and Delgado in the US District Court for the Middle District of Florida, alleging that customer funds were used to pay fictitious profits and support Delgado's lifestyle. The company hired sales agents to attract more investors, paying them commissions from investor funds.