SEC, CFTC Target Goliath Ventures Over $400M Crypto Ponzi

Federal regulators have targeted Goliath Ventures over an alleged crypto Ponzi scheme involving more than $400 million. The CFTC cites 1,600 customers, while the SEC alleges at least $425 million was raised from over 1,300 investors.

The CFTC stated:

“The defendants engaged in a Ponzi scheme by fraudulently soliciting and accepting funds from the public for crypto asset trading, including in bitcoin and ether.”

According to the complaint, Goliath Ventures and Delgado allegedly misappropriated all customer funds rather than deploying the money as represented for crypto asset trading. Regulators allege incoming funds paid fictitious profits to existing customers and financed Delgado’s lifestyle, while customers received false statements showing nonexistent gains and guarantees covering principal or profits.

Federal prosecutors said Delgado used investor funds to purchase at least six residential properties valued between $1.15 million and $8.5 million each. He also agreed to forfeit eight properties, 11 vehicles, 30 watches, more than 50 luxury bags and wallets, at least 29 pieces of jewelry, and certain bank and cryptocurrency accounts.

The CFTC stated:

“In total, approximately 1,600 customers contributed at least $397 million to the defendants’ fraud.”

Those remedies differ from the SEC’s requested relief, which includes injunctions and disgorgement against Goliath, while Delgado has agreed to a judgment subject to court approval. The amount of his disgorgement, prejudgment interest, and civil penalty would be determined later by the court.

The SEC alleges no investor funds or crypto assets entered the purported liquidity pools, while Delgado misappropriated at least $51 million for personal use, including homes, luxury vehicles, a yacht, and travel. Goliath allegedly fabricated account balances and performance metrics before halting monthly distributions in November 2025 when new investor money could no longer sustain repayments.