Florida-based crypto firm Goliath Ventures has filed for Chapter 11 bankruptcy after its CEO, Christopher Delgado, was arrested on federal charges of wire fraud and money laundering.
Delgado, who ran the firm from 2023 to 2026, allegedly orchestrated a Ponzi scheme that defrauded over 2,000 investors of at least $328 million.
Investigators say most funds were recycled to pay early investors or funneled to Delgado’s personal expenses, including luxury real estate and travel.
JPMorgan Chase is being sued for allegedly enabling the scheme by facilitating transactions through a key account.
Early warning signs emerged in late 2025, when investor payments stopped.
YouTube investigator Coffeezilla confronted Delgado about the delays, prompting public scrutiny.
The case has sparked a broader investigation involving major firms and crowdsourced forensic analysis of blockchain data.