SEC, CFTC Sue Goliath Ventures Over Alleged $425M Crypto Ponzi Scheme

The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have filed civil cases against Goliath Ventures and its founder, Christopher Delgado. The alleged crypto Ponzi scheme reportedly took in roughly $400 million from investors.

According to the SEC, Goliath raised at least $425 million from over 1,300 investors between January 2023 and January 2026 through an unregistered securities offering tied to purported crypto liquidity pools. Investors were promised monthly returns of 3% to 10%, as well as the return of their principal.

However, the SEC alleges that no investor funds or crypto assets were placed into the promised pools, while at least $51 million was diverted by Delgado for personal use, including luxury vehicles and a yacht.

The CFTC's complaint puts the total amount taken in by Goliath at roughly $397 million from 1,600 customers who were solicited for crypto trading involving Bitcoin and Ethereum. The CFTC alleges that Goliath used customer money to pay fictitious profits to earlier customers and issued false account statements showing nonexistent gains.