SEC Cracks Down on Goliath Ventures Crypto Ponzi Scheme

The US Securities and Exchange Commission (SEC) has charged Goliath Ventures and its CEO, Christopher A. Delgado, with running a multiyear cryptocurrency fraud that drew at least $425 million from over 1,300 investors.

The company allegedly solicited money by pitching a strategy built around crypto liquidity pools and promising monthly returns of 3% to 10%, along with the return of principal. However, regulators claim those pools were largely fictional, and money from newer investors was used to pay earlier participants, creating an illusion of a successful trading business.

The SEC alleges that Delgado personally diverted at least $51 million, using it for luxury homes, vehicles, travel, and yachts. The regulator is seeking injunctions, disgorgement, and prejudgment interest, as well as permanent restrictions on Goliath and Delgado.