The CFTC has filed a lawsuit against Goliath Ventures and CEO Christopher Delgado, alleging the company operated a cryptocurrency Ponzi scheme that took at least $397 million from approximately 1,600 customers.
Investors were allegedly told their funds would be used to trade Bitcoin and Ethereum or generate returns through crypto liquidity pools.
Instead, regulators allege new investor funds were used to pay earlier investors and finance Delgado's luxury lifestyle.
Federal authorities say Delgado purchased multiple properties, high-end vehicles, watches, jewelry and other luxury items using proceeds from the scheme.
Delgado pleaded guilty in June to federal fraud and money-laundering charges. His sentencing is scheduled for October 8, 2026.
The SEC has also filed a parallel civil action.
❄️ @Release 💬 @Conversate
🦎 LizardSwap.com — Your #1 Crypto Exchange for NO KYC & No Frozen Funds