Goliath Ventures' Crypto Liquidity Pool Scheme Unravels with $400M Ponzi Lawsuits

The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have filed separate civil lawsuits against Goliath Ventures and its founder, Christopher Delgado.

The allegations surround a $400 million crypto Ponzi scheme in which investors were promised returns from crypto liquidity pools but instead saw their funds diverted to pay earlier investors and fund the company's founder's personal expenses.

The SEC claims that Goliath raised at least $425 million from over 1,300 investors through an unregistered securities offering, while the CFTC alleges that approximately 1,600 customers contributed at least $397 million after being solicited for crypto trading in Bitcoin and Ether.