Goliath Ventures Pyramid Scheme Targets Over 1,600 Investors for $397 Million

The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have filed lawsuits against Goliath Ventures Inc. and its former CEO Christopher Delgado, alleging a large-scale cryptocurrency pyramid scheme.

The investigation found that Delgado convinced investors to put their money into Bitcoin and Ethereum trading, but in reality, the funds were used for personal expenses such as luxury items, travel, jewelry, and even pet services.

The CFTC noted that Goliath Ventures operated on a classic pyramid scheme principle, with some clients receiving profits from new deposits while others were shown fake statements to create the illusion of a successful company.

Delgado was arrested in February 2026 for fraud and money laundering and pleaded guilty in June. He faces up to 30 years in prison.