The US Securities and Exchange Commission and Commodity Futures Trading Commission have filed separate civil cases against Goliath Ventures and founder Christopher Delgado. This is the latest escalation over an alleged crypto Ponzi scheme that regulators say took in roughly $400 million.
The SEC said Goliath raised at least $425 million from more than 1,300 investors between January 2023 and January 2026 through an unregistered securities offering tied to purported crypto liquidity pools. Investors were promised monthly returns of 3% to 10% and the return of their principal.
Instead, the agency alleges no investor funds or crypto assets were placed into the promised pools, while at least $51 million was diverted by Delgado for homes, luxury vehicles, a yacht and travel.
The CFTC’s complaint puts the total at roughly $397 million from 1,600 customers who were solicited for crypto trading involving Bitcoin and Ethereum. It alleges Goliath used customer money to pay fictitious profits to earlier customers, guaranteed principal or profits and issued false account statements showing nonexistent gains.
Delgado Faces Civil and Criminal Consequences
Delgado agreed to a bifurcated settlement with the SEC, subject to court approval. The deal would permanently restrict him from violating the securities laws cited in the complaint, participating in most securities transactions and acting as or associating with a broker or dealer. Disgorgement, prejudgment interest and a civil penalty will be determined later.
The CFTC is separately also seeking restitution, disgorgement, monetary penalties, trading and registration bans, and a permanent injunction.
The civil cases follow Delgado’s June 30 guilty plea to conspiracy to commit wire fraud, wire fraud and money laundering. Federal prosecutors said at least $400 million was paid to Goliath and Delgado admitted causing at least $250 million in investor losses.
The government is also pursuing assets that were allegedly purchased with investor money. A DOJ forfeiture action targets seven properties and 11 vehicles. Prosecutors allege that about $17 million went toward homes and office space and more than $2.5 million toward vehicles. Delgado has separately agreed to forfeit additional luxury assets, bank accounts and crypto accounts.
The DOJ’s latest case page lists Delgado’s sentencing for Oct. 21, 2026, and says the criminal investigation is still ongoing.
