SEC, CFTC Sue Goliath Ventures Over Alleged $400M Crypto Ponzi

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have filed separate civil cases against Goliath Ventures Inc. and its CEO, Christopher Delgado, over an alleged crypto Ponzi scheme involving about $400 million.

The complaints, filed on August 11 in the U.S. District Court for the Middle District of Florida, allege that Goliath promised returns from crypto liquidity pools but used investor money to pay earlier participants and fund personal spending. Delgado had already pled guilty to related federal criminal charges in June.

Regulators File Parallel Civil Cases

The CFTC said about 1,600 customers contributed at least $397 million after Goliath solicited funds for crypto trading in assets including bitcoin and ether.

The SEC’s complaint puts the amount at no less than $425 million from more than 1,300 investors. It says Goliath raised the money between January 2023 and January 2026 through an unregistered securities offering.

Both agencies describe the operation as a Ponzi scheme. The allegations have not yet been decided in the civil cases.

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