SEC and CFTC Sue Goliath Ventures Over Alleged $400 Million Crypto Ponzi Scheme

The US Securities and Exchange Commission and Commodity Futures Trading Commission filed separate civil lawsuits against Goliath Ventures and founder Christopher Delgado over an alleged crypto Ponzi scheme that raised about $400 million. According to Cointelegraph, the SEC said Goliath raised at least $425 million from more than 1,300 investors through an unregistered securities offering, while the CFTC said approximately 1,600 customers contributed at least $397 million after the firm solicited funds for crypto trading in Bitcoin and Ether. The agencies said investors were told their money would be placed in crypto liquidity pools, but alleged none of the funds or crypto assets were invested and that Delgado diverted at least $51 million for personal use. The SEC also alleged Goliath promised monthly returns of 3% to 10%, guaranteed investors’ principal, used money from new and existing investors to pay earlier investors, and fabricated account balances and performance metrics. The agency said the company paid commissions to sales agents who recruited investors and later collapsed by November 2025 after it could no longer raise money quickly enough to meet obligations. In the CFTC case, the agency is seeking restitution, disgorgement, civil penalties, trading and registration bans, and a permanent injunction. The actions add securities and commodities-law consequences to a criminal case that has already produced a guilty plea, allowing the agencies to seek investor compensation, penalties and market bans beyond the consequences available through Delgado’s plea.Delgado agreed to a bifurcated settlement, subject to court approval, that would permanently bar him from violating the securities-law provisions charged in the complaint. He would also be barred from participating in securities transactions outside personal-account activity and from associating with a broker or dealer. The court will determine disgorgement, prejudgment interest and a civil penalty. Delgado previously pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering. On June 30, the US Department of Justice said at least $400 million was paid to Goliath and that Delgado admitted causing at least $250 million in investor losses. He also agreed to forfeit properties, vehicles, luxury goods, bank accounts and crypto wallets traceable to the scheme.