Former Goliath Ventures CEO agrees to plead guilty in $250 million crypto Ponzi scheme: Court filings
Former Goliath Ventures CEO agrees to plead guilty in crypto Ponzi scheme
The former CEO of a Central Florida cryptocurrency investment company has agreed to plead guilty to federal charges and repay hundreds of millions of dollars after prosecutors accused him of operating a multimillion-dollar Ponzi scheme that defrauded more than 1,000 investors.
ORLANDO, Fla. - The former CEO of a Central Florida cryptocurrency investment company has agreed to plead guilty to federal charges and repay hundreds of millions of dollars after prosecutors accused him of operating a multimillion-dollar Ponzi scheme that defrauded more than 1,000 investors.
Federal prosecutors said Christopher Delgado, founder, president and CEO of Goliath Ventures, signed a plea agreement admitting to conspiracy to commit fraud, wire fraud and money laundering.
What's New:
According to court documents filed in the U.S. District Court Middle District of Florida, Delgado acknowledged that the scheme generated at least $250 million from investors between 2023 and January 2025.
The backstory:
Prosecutors allege Goliath Ventures promised substantial returns on large cryptocurrency-related investments but used money from new investors to pay earlier participants while funding Delgado's lavish lifestyle.
Investigators said the typical minimum investment was $100,000.
CLICK TO DOWNLOAD THE FOX LOCAL APP
As part of the plea agreement, Delgado agreed to pay full restitution to victims and forfeit assets purchased with investor funds. Federal authorities identified numerous luxury assets tied to the scheme, including Central Florida homes valued at a combined $15 million, a Lamborghini worth approximately $700,000, several other luxury vehicles and high-end clothing, watches and accessories.
SIGN-UP FOR FOX 35'S BREAKING NEWS, DAILY NEWS NEWSLETTERS
Prosecutors said the operation unraveled late last year when investors began seeking to withdraw their principal investments and promised returns.
Federal officials allege more than 1,000 investors suffered losses as a result of the scheme. Some victims told Fox 35 they invested their life savings, including a pastor and his wife who said they entrusted all of their retirement funds to the company. Another investor said he lost approximately $750,000.
What's next:
Under the agreement, Delgado also pledged to cooperate with federal investigators and prosecutors as they continue pursuing other individuals connected to the case.
Delgado faces a maximum sentence of 50 years in federal prison. The plea agreement must still be approved by a federal judge.
The Source: This story was written based on filings in the U.S. District Court Middle District of Florida and previous reporting by FOX 35 News.