CFTC Charges Goliath Ventures and CEO Christopher Delgado in $397 Million Crypto Fraud Scheme

The U.S. Commodity Futures Trading Commission (CFTC) has filed a complaint against Goliath Ventures Inc. and its CEO Christopher Delgado, alleging that they operated a Ponzi scheme that fraudulently solicited nearly $400 million from cryptocurrency investors.

Filed in the U.S. District Court for the Middle District of Florida on August 11, 2026, the complaint alleges that Goliath Ventures and Delgado solicited funds from approximately 1,600 customers for purported cryptocurrency trading, including investments in bitcoin and ether. In total, customers contributed at least $397 million.

According to the CFTC, the defendants misappropriated all customer funds rather than using them for the promised crypto trading activities. They allegedly used funds to pay fictitious profits to existing customers and finance Delgado's lavish lifestyle.

The defendants also allegedly made false guarantees regarding the return of investors' principal and profits and issued account statements showing nonexistent gains.

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

The case follows a federal criminal prosecution against Delgado. In June 2026, he pleaded guilty to federal criminal charges related to his role in the alleged fraud.

Separately, the U.S. Securities and Exchange Commission (SEC) filed a civil action against Delgado and Goliath Ventures on August 11, 2026, in connection with the same alleged scheme.

The CFTC said the enforcement action reflects its continued focus on fraud and misconduct involving crypto asset markets and acknowledged assistance from the U.S. Attorney's Office for the Middle District of Florida and the SEC.