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A Florida man was arrested on charges related to the allegations cryptocurrency “Ponzi scheme” that defrauded investors of at least $328 million.
The U.S. Attorney’s Office for the Middle District of Florida said Tuesday that Christopher Alexander Delgado, 34 Apopka, FloridaHe was arrested for fraud and money laundering. If convicted of all charges, Delgado faces up to 30 years in federal prison.
According to the government’s complaint, Delgado was the president and CEO of Goliath Ventures, formerly known as Gen-Z Venture Firm, and allegedly operated a Ponzi scheme from January 2023 to January 2026. The Ponzi scheme involved paying desired returns to existing investors on funds received from new investors.
The US Attorney’s Office said the scheme involved Delgado allegedly luring victims to invest large sums of money under what prosecutors described as false and fraudulent promises of monthly returns generated by cryptocurrency “pools of liquid.”
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Christopher Alexander Delgado was arrested and charged with fraud and money laundering. (WNYW)
Victims of the scheme, according to the complaint, were also solicited to provide Delgado’s company with money through referrals, high-end marketing materials, lavish events, charity sponsorships, and monthly payments of returns that Goliath allegedly earned from investors.
When Goliath said he would investor funds in cryptocurrency liquidity pools, the announcement by federal prosecutors showed that the funds were used primarily to pay targeted returns to previous investors, to return the principal of investors who requested it, and to pay for lavish business gatherings, holiday parties and luxury accommodations.
The U.S. attorney’s office said Delgado used money from investors he allegedly abused to buy four residential areas each cost between $1.15 million and $8.5 million.
The alleged Ponzi scheme lured investors with promises of returns from pools of crypto liquidity. (Stock)
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Victims identified by law enforcement will receive notice of their rights under Crime Victims’ Rights Act.
The announcement by the prosecutor’s office also indicated that victims who have not received such notification can reach the IRS through a dedicated contact email for victims of Goliath, while the Department of Justice also has a web page with information about how victims can present themselves to law enforcement officers working on the case.
The Department of Justice announced the arrest of Delgado on charges of operating a crypto Ponzi scheme. (Samuel Corum/Bloomberg via Getty Images)
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Criminal complaints and indictments are simply allegations that a defendant has violated the law, and all defendants are presumed innocent unless, until, they are found guilty.
The case is being investigated by Internal Revenue Service Criminal Investigation and the Department of Homeland Security.
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