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The SEC and CFTC have filed separate civil cases against Goliath Ventures and founder and CEO Christopher Delgado over an alleged crypto Ponzi scheme that raised hundreds of millions of dollars from investors between 2023 and 2026.
The SEC says Goliath raised at least $425 million from more than 1,300 investors, while the CFTC says roughly 1,600 customers contributed at least $397 million. Both actions were filed August 11 in the U.S. District Court for the Middle District of Florida.
Goliath Promised Monthly Returns of 3% to 10%
Goliath marketed investments in purported crypto liquidity pools that it said would generate monthly profit distributions of 3% to 10%. Investors were also guaranteed the return of their principal.
The SEC alleges Goliath never placed investor funds or crypto assets into those liquidity pools. Instead, money from new and existing investors was used to pay earlier investors while account balances and performance figures were fabricated to show nonexistent profits.
The CFTC separately alleges Goliath solicited customer funds for crypto trading, including Bitcoin and Ether, but misappropriated the money. It also alleges the company guaranteed principal or profits and issued false account statements.
SEC Says Delgado Diverted at Least $51M
The SEC alleges Delgado misappropriated at least $51 million for personal expenses, including homes, luxury vehicles, a yacht, and travel. Goliath also allegedly paid sales agents commissions drawn from investor funds to recruit additional customers.
By November 2025, the SEC says Goliath could no longer raise new money quickly enough to maintain distributions to existing investors. Monthly payments stopped and the alleged scheme collapsed.
Delgado Faces Civil Cases After June Guilty Plea
Delgado pleaded guilty on June 30 to conspiracy to commit wire fraud, wire fraud and money laundering. The Justice Department’s current case schedule lists sentencing for October 21. He admitted to causing at least $250 million in investor losses.
Delgado has separately agreed to a bifurcated settlement with the SEC, subject to court approval. The proposed judgment would impose permanent injunctions and securities-industry restrictions, while disgorgement, prejudgment interest and a civil penalty will be determined later.
The CFTC is seeking restitution, disgorgement, civil monetary penalties, trading, and registration bans and a permanent injunction. Its case remains pending alongside the SEC action and Delgado’s criminal proceedings.
