Florida-based cryptocurrency company Goliath Ventures has filed for Chapter 11 bankruptcy protection following the arrest of its CEO, Christopher Delgado, who faces federal charges of wire fraud and money laundering in connection with an alleged Ponzi scheme that embezzled at least $328 million from more than 2,000 investors.
According to another Deposit With the US Bankruptcy Court for the Southern District of Florida, the company’s liabilities could reach $500 million, with $1 million to $10 million available for repayment.
A number of major companies are being called in connection with the Goliath Ventures Ponzi scheme to determine their role in handling investor money and whether they were aware of any suspicious activity.
Investors in Goliath projects are: Targeting JPMorgan Chase In a class action lawsuit, it claims the bank enabled a $328 million Ponzi scheme.
According to a complaint filed earlier this month, Delgado funneled most of the money through Chase’s main account, paid returns to previous investors and transferred millions to himself. The lawsuit alleges that the bank failed to detect the fraud despite monitoring systems and regulatory obligations, and seeks damages for all affected investors.
Criminal charges against Delgado
Delgado, a 34-year-old resident of Apopka, Florida, was taken into custody on February 24 following a criminal complaint. foot By the United States Attorney’s Office for the Middle District of Florida.
According to the complaint, Delgado ran Goliath Ventures, formerly known as Gen-Z Venture Firm, from January 2023 to January 2026, luring victims with fabricated claims that their capital would be deployed in cryptocurrency liquidity pools and generate consistent returns.
Prosecutors allege that the promised returns ranged between approximately 3% and 8% on an annual basis.
In fact, investigators say, the vast majority of the money received was recycled to pay early participants or diverted to cover lavish corporate expenses, luxury travel, and Delgado’s personal real estate portfolio, which federal authorities say includes four properties worth between $1.15 million and $8.5 million each.
Early warnings and independent investigations
Red flags surrounding Goliath’s operations began to emerge publicly in late 2025, when monthly distributions to investors reportedly slowed and then stopped altogether.
Steven Vindessen, a YouTube investigator known as Coffeezilla, confronted Delgado directly about the missed payments in January.
I asked founder Chris Delgado about the lack of distributions to investors, and he replied, “Operations will return to normal…from December 15 to 18.”
A month has passed and payments have not resumed. pic.twitter.com/3TGnQxYJhA
– Coffeebreak (@coffeebreak_YT) January 25, 2026
By early February, investigative journalist Danny De Heck was publicly cataloging suspected distribution wallets and inviting victims, insiders and whistleblowers to share transaction logs, screenshots and on-chain data to help track the flow of funds.
A collective forensic effort identified multiple wallet addresses believed to have been used for periodic payments, and analysts pointed to patterns consistent with early insider withdrawals and so-called dustup activity.
