US Regulators Target Goliath Ventures for Alleged Crypto Ponzi Scheme

Regulators in the US have taken action against Goliath Ventures and its CEO, Christopher Alexander Delgado, for allegedly operating a crypto Ponzi scheme. The Commodity Futures Trading Commission (CFTC) filed a complaint against the company and Delgado in the US District Court for the Middle District of Florida. The Securities and Exchange Commission (SEC) also filed separate charges on the same day.

The regulators claim that Goliath raised hundreds of millions of dollars from investors by promising to generate profits through crypto asset trading and liquidity pools. According to the SEC, about 1,600 customers contributed at least $397 million, while the SEC put the amount raised at around $425 million from more than 1,300 investors.

The company allegedly operated the scheme from January 2023 through January 2026 by making false promises of monthly returns of 3% to 10% from fees paid by buyers and sellers trading crypto assets. However, the SEC claims that funds from new and existing investors were used to pay promised returns to earlier investors.

The CFTC also alleged that customer funds were used to pay fictitious profits and support Delgado's lifestyle. The CEO took at least $51 million for personal use, including homes, luxury vehicles, a yacht, and travel. Goliath also hired sales agents to attract more investors and paid them commissions from investor funds.