|
Matthias Knab, Opalesque: The U.S. Commodity Futures Trading Commission has charged Florida-based Goliath Ventures Inc. and its founder and chief executive Christopher Delgado with running a Ponzi scheme that took at least $397 million from roughly 1,611 customers between November 2022 and February 2026.
Delgado pleaded guilty in June 2026 to conspiracy to commit wire fraud, wire fraud and money laundering. The SEC filed a parallel civil action on the same day as the CFTC. Goliath has been in bankruptcy since March.
The headline number is large but not unusual. What makes the complaint worth reading in full is the breakdown of where the money went, and the elaborate apparatus of legitimacy the firm built around itself. Both hold lessons that generalise well beyond crypto.
Follow the money and the business model becomes obvious
Goliath told customers it would deploy their bitcoin and ether into liquidity pools on decentralised exchanges, earning fees as a large liquidity provider. A 2023 deck pitched 3% monthly, described as 36% annually, with the option to take the cash or "Hyper Compound" it. Joint venture agreements signed with customers went further, guaranteeing return of principal and in some cases guaranteed monthly profits of up to 5%.
According to the CFTC, no customer funds were ever deployed to liquidity pools. Not a reduced allocation, not a losing allocatio...................... To view our full article Click here
|
RSS
