SEC, CFTC sue Goliath Ventures over $400M crypto Ponzi scheme
SEC and CFTC filed civil suits against Goliath Ventures and founder Christopher Delgado over an alleged crypto Ponzi scheme that raised about $400 million. The SEC said Goliath took at least $425 million from more than 1,300 investors in an unregistered securities offering, falsely promising crypto liquidity-pool returns of 3% to 10% monthly and principal protection. It alleged the firm used new investor money to pay earlier investors, fabricated balances and performance, and Delgado diverted at least $51 million for personal use. The CFTC said about 1,600 customers sent at least $397 million for crypto trading. It seeks restitution, disgorgement, penalties, bans, and a permanent injunction. Delgado agreed to settle the SEC case, including a permanent industry bar and limits on securities activity, with penalties still to be तयined by the court. He has already pleaded guilty in the related criminal case.
