Goliath Scandal: Millions at Risk After Crypto Firm Collapse

Authorities believe the project operated as a $328 million Ponzi scheme.

Goliath Ventures files for bankruptcy after CEO arrest in $328M scheme

30.03.2026 - 10:30

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Key points:

Goliath Ventures filed for bankruptcy after its founder was arrested on fraud and money laundering charges.
Authorities say the company operated as a Ponzi scheme and raised at least $328 million.

Florida-based crypto firm Goliath Ventures has filed for Chapter 11 bankruptcy following the arrest of its founder, Christopher Delgado. He was taken into custody in February on charges of fraud and money laundering.

According to authorities, the business operated as a Ponzi scheme from 2023 to 2026. Investors were promised steady returns from crypto liquidity pools, but in reality, payouts were funded using money from new participants.

Over $300M Raised and Thousands of Victims

Investigators say the company brought in at least $328 million. Some of the funds were allegedly used to pay earlier investors, while the rest went toward personal expenses, including luxury real estate and travel.

More than 2,000 investors were affected. Some suffered losses in the millions — one individual reportedly lost nearly $9 million.

Delgado is also accused of purchasing several high-end residential properties. If convicted on all charges, he could face up to 30 years in federal prison.

The Chapter 11 process allows the company to restructure its debts under court supervision, giving creditors a chance to recover part of their funds.

Praetorian Group CEO sentenced to 20 years over $200M crypto Ponzi

The scheme raised more than $201 million, including 8,198 BTC.

Separately, investors have filed a class-action lawsuit against JPMorgan. The complaint alleges the bank may have overlooked suspicious transactions linked to Goliath. It also references JPMorgan’s partnership with Coinbase, which plaintiffs claim may have helped the scheme scale.

However, neither JPMorgan nor Coinbase has been accused of wrongdoing. The case is a civil lawsuit seeking damages.

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