BlockBeats News, August 12, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission today separately filed civil lawsuits against Goliath Ventures and its founder Christopher Delgado, alleging that they conducted a crypto Ponzi scheme through an unregistered securities offering. The company raised at least $425 million from over 1,300 investors, promising to invest the funds in a crypto liquidity pool to generate monthly returns of 3% to 10% and guarantee the safety of the principal. However, no funds were actually invested, and the company used new investor funds to pay early investors, falsified account balances and performance metrics, and paid commissions to sales agents who recruited investors. Delgado personally misappropriated at least $51 million for luxury expenses. The CFTC, in a parallel lawsuit, noted that approximately 1,600 customers collectively lost at least $397 million after being induced to invest in Bitcoin and Ethereum trading. By November 2025, the company was unable to quickly raise enough funds to meet its redemption obligations and collapsed completely after ceasing monthly dividends.

Delgado had previously pleaded guilty to conspiracy to commit wire fraud, wire fraud, and money laundering charges. The U.S. Department of Justice stated on June 30 that at least $400 million flowed into Goliath, and Delgado admitted to causing at least $250 million in investor losses. He agreed to forfeit real estate, vehicles, luxury goods, bank accounts, and cryptocurrency wallets traceable to the scheme. Delgado has agreed to a court-approved settlement with the SEC, permanently prohibiting him from violating relevant securities laws, engaging in securities transactions (except for personal accounts), and being associated with a broker-dealer. The court will separately determine the disgorgement of ill-gotten gains, pre-judgment interest, and civil penalties.