CFTC Complaint Details Alleged $397 Million Ponzi Scheme Involving Crypto Trading by Goliath Ventures and CEO

The Commodity Futures Trading Commission filed a complaint in the U.S. District Court for the Middle District of Florida against Goliath Ventures Inc. and Christopher Delgado, its CEO and a Florida resident. The agency alleges the defendants ran a Ponzi scheme, fraudulently soliciting funds from the public for crypto asset trading in bitcoin and ether.

Contrary to their representations, the defendants misappropriated all customer funds. They paid fictitious profits to existing customers, funded Delgado‘s lavish lifestyle, falsely guaranteed the return of principal investments or profits, and issued false account statements showing nonexistent profits. In total, approximately 1,600 customers contributed at least $397 million.

Fraud Allegations and CFTC Response

The complaint seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations.

“We will continue to aggressively police fraud, abuse, and manipulation in the crypto asset markets to ensure that bad actors are punished, while developing clear rules of the road so that good actors have the opportunity to build on American soil,” said Chairman Michael S. Selig. “The Division of Enforcement continues to be an important cop on the beat in addressing fraud in connection with digital commodities,” said Director of Enforcement David I. Miller.

Parallel Proceedings and Industry Implications

In June 2026, in connection with a criminal case brought by the U.S. Attorney’s Office for the Middle District of Florida, Delgado pleaded guilty to federal criminal charges for his role in the fraud. On August 11, 2026, the Securities and Exchange Commission also filed a civil action against Delgado and Goliath Ventures Inc. for their roles in the fraud, according to the CFTC’s announcement.

The CFTC appreciates the assistance of the U.S. Attorney’s Office for the Middle District of Florida and the SEC. This overlap of civil, criminal, and parallel SEC proceedings highlights limits in any single agency’s reach. It signals that crypto market participants face layered exposure across forums when misconduct is alleged, with the guilty plea already in place ahead of the civil resolutions.

Reporting: CFTC Enforcement Actions

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