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ORLANDO, Fla. - Christopher Delgado, the former CEO of a Central Florida cryptocurrency company at the center of a multimillion-dollar Ponzi scheme, is expected to plead guilty to federal charges.
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Delgado, who is scheduled for a plea agreement hearing Tuesday, is accused of defrauding more than 1,000 investors while using their money to buy luxury homes and cars.
According to court documents filed last week, Delgado signed a plea agreement, admitting to conspiracy to commit fraud, wire fraud and money laundering.
The backstory:
Delgado, the former CEO of Goliath Ventures, is accused of using money from investors to fund a lavish lifestyle.
Investigators say Delgado would promise investors large returns with cryptocurrency opportunities, but would instead use the money on luxury items.
The company typically required a $100,000 initial investment from new investors, according to investigators.
One investor told FOX 35 they lost $750,000 from their investment with Goliath Ventures. Another investor, a couple, said they invested all of their retirement funds.
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Delgado was arrested and charged in February.
Investigators said he operated the Ponzi scheme from January 2023 to January 2026.
The Source: This story was written with information from court records and previous FOX 35 reporting.