CFTC Sues Goliath Ventures Over $397 Million Crypto Ponzi Scheme
The Commodity Futures Trading Commission has charged Goliath Ventures Inc. and its CEO, Florida resident Christopher Delgado, with running a Ponzi scheme built on fraudulent solicitations for bitcoin and ether trading.
The complaint was filed in the U.S. District Court for the Middle District of Florida.
Roughly 1,600 customers contributed at least $397 million to the scheme, while Delgado and Goliath misappropriated all customer funds. They funded Delgado's personal spending, and issued account statements showing profits that did not exist. Some existing customers received fictitious profitsout of new deposits.
The CFTC is seeking restitution, disgorgement, civil penalties, trading and registration bans, and a permanent injunction under the Commodity Exchange Act.
Delgado pleaded guilty to related federal criminal charges in June 2026, and the SEC filed its own civil action against Delgado and Goliath on August 11, 2026.
A String of Crypto-Ponzi Cases
Goliath is the largest in a series of crypto-Ponzi actions the CFTC has brought this year. In July, the agency charged Trevor L. Vernon and his firm, Argent Capital Management LLC, in the Western District of North Carolina.
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