Christopher Alexander Delgado, the former CEO of Goliath Ventures, pleaded guilty to fraud and money laundering charges stemming from a crypto investment scheme prosecutors said stole at least $400 million from investors.
Delgado, a Florida resident, pleaded guilty Tuesday to conspiracy to commit wire fraud, wire fraud and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida.
He faces up to 20 years in prison for each fraud count and up to 10 years on the money laundering count.
Goliath Ventures, formerly Gen-Z Venture Firm, solicited investors from at least January 2023 through January 2026 with pitches for monthly payouts it claimed came from crypto liquidity pools, prosecutors said. Delgado admitted in his plea agreement to causing at least $250 million in investor losses.
Investor money was used to pay earlier investors, fund withdrawals and cover luxury spending, according to prosecutors. Delgado bought at least 6 residential properties worth between $1.15 million and $8.5 million each, plus Lamborghinis, Rolls-Royces, Rolex watches, dozens of Louis Vuitton bags and custom Tiffany jewelry, with the funds.
Delgado agreed to forfeit 8 properties, 11 vehicles, 30 watches, more than 50 luxury bags and wallets, at least 29 pieces of jewelry, and several seized bank and crypto accounts as part of the agreement.
The guilty plea follows Delgado’s February arrest, when prosecutors said Goliath had raised at least $328 million and promised investors guaranteed or low-risk monthly returns of 3% to 8%.
Investors later sued JPMorgan, alleging the bank processed about $253 million in Goliath-linked deposits and ignored red flags tied to the alleged Ponzi scheme.
Goliath’s entities were placed into receivership in March and later filed for Chapter 11 bankruptcy in the Southern District of Florida, according to the case information site. The bankruptcy cases are pending before Judge Robert A. Mark.
Delgado’s sentencing hearing is scheduled for Oct. 8.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
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