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Goliath Ventures CEO Arrested in $328M Ponzi Scheme

  • Christopher Alexander Delgado, former CEO of Goliath Ventures, has been arrested on federal charges of wire fraud and money laundering.
  • The Department of Justice accuses Delgado of operating a $328 million “Ponzi scheme” that duped investors with promises of crypto liquidity pool returns.
  • Investor funds were allegedly used to pay earlier investors, fund lavish parties and travel, and purchase multi-million dollar residential properties.

The former CEO of crypto investment firm Goliath Ventures was arrested in Florida on federal charges of wire fraud and money laundering, according to the Department of Justice. Christopher Alexander Delgado is accused of orchestrating a massive $328 million “Ponzi scheme” through his company.

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Investors were allegedly lured with marketing materials promising monthly returns from crypto liquidity pools. However, the complaint states the vast majority of funds were not invested as advertised.

Consequently, only about $1.5 million of the investor capital was sent to the decentralized exchange Uniswap. Meanwhile, the DOJ alleges most money was diverted to sustain the fraud and fund Delgado’s lifestyle.

The scheme allegedly used new investor funds to pay purported returns to earlier participants. It also financed extravagant business gatherings, luxury travel, and the purchase of four high-value residential properties.

The DOJ has invited potential victims to self-identify themselves via a dedicated site. Meanwhile, law enforcement will notify identified victims of their rights under the Crime Victims’ Rights Act.

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