SEC and CFTC Squeeze Goliath Ventures Over $425M Crypto Ponzi Scheme
The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have filed separate civil cases against Goliath Ventures, a company accused of running a $425 million crypto Ponzi scheme. The alleged scam promised investors returns of up to 10% per month on their investments in purported crypto liquidity pools.
The SEC complaint alleges that Goliath Ventures raised at least $425 million from over 1,300 investors between January 2023 and January 2026 through an unregistered securities offering. However, the agency claims no investor funds or crypto assets were placed into the promised pools, while at least $51 million was diverted by founder Christopher Delgado for personal expenses.
The CFTC's complaint puts the total amount taken from investors at roughly $397 million from 1,600 customers who were solicited for crypto trading involving Bitcoin and Ethereum. The agency alleges Goliath used customer money to pay fictitious profits to earlier customers and issued false account statements showing nonexistent gains.
Delgado has already pleaded guilty to conspiracy to commit wire fraud, wire fraud, and money laundering, admitting to causing at least $250 million in investor losses. The government is also pursuing assets allegedly purchased with investor money, including seven properties, 11 vehicles, and bank accounts.