Crypto firm Goliath Ventures files for bankruptcy after CEO arrested for alleged $328M Ponzi scheme
Florida-based crypto firm Goliath Ventures has filed for Chapter 11 bankruptcy protection following the arrest of its CEO, Christopher Delgado, on charges of fraud and money laundering in connection with a Ponzi scheme that allegedly bilked more than 2,000 investors of at least $328 million.
According to a recent filing in the US Bankruptcy Court for the Southern District of Florida, the company’s debts could reach $500 million, with between $1 million and $10 million available for repayment.
A number of large companies are being subpoenaed in connection with the Goliath Ventures Ponzi scheme to determine their role in managing investors’ funds and whether they were aware of the suspicious activity.
Investors in Goliath Ventures are targeting JPMorgan Chase in a class action, claiming the bank enabled a $328 million Ponzi scheme.
According to the complaint filed earlier this month, Delgado transferred large sums of money through a key Chase account, paying kickbacks to former investors and diverting millions to himself. The lawsuit alleges that the bank failed to detect the fraud despite monitoring systems and regulatory obligations, and seeks damages for all affected investors.
Criminal charges against Delgado
Delgado, a 34-year-old resident of Apopka, Florida, was taken into custody on February 24 following a criminal complaint filed by the United States Attorney’s Office for the Central District of Florida.
According to the complaint, Delgado operated Goliath Ventures, formerly known as Gen-Z Venture Firm, from January 2023 to January 2026, luring victims with fictitious claims that their money would be invested in crypto liquidity pools and generate fixed returns.
Prosecutors alleged that the promised yield ranged from about 3% to 8% per year.
In fact, investigators said, much of the proceeds were either re-used to pay early investors or diverted to pay for luxury business expenses, luxury travel, and Delgado’s real estate portfolio, which federal authorities say includes four properties worth between $1.15 million and $8.5 million each.
Early warnings and independent investigations
Red flags surrounding Goliath’s performance began to appear publicly in late 2025, when monthly distributions to investors reportedly dropped and stopped altogether.
Stephen Findeisen, a YouTube investigator known as Coffeezilla, confronted Delgado directly about the missed payments in January.
I asked the founder, Chris Delgado about the lack of distribution to investors, and he replied “performance will return to normal … Dec 15th-18th”.
It’s been a month and payments are reportedly not being initiated. pic.twitter.com/3TGnQxYJhA
— Coffeezilla (@coffeebreak_YT) January 25, 2026
In early February, investigative journalist Danny De Hek was publicly documenting the allegedly distributed wallets and calling on victims, insiders, and whistleblowers to share transaction records, screenshots, and on-chain data to help trace the flow of funds.
A crowdsourced research effort has identified multiple wallet addresses believed to be used for periodic payments, and analysts have flagged patterns consistent with early withdrawals and so-called setup work.
