TLDR
- CFTC charged Goliath Ventures and CEO Christopher Delgado over an alleged $397 million crypto Ponzi scheme.
- About 1,600 customers contributed at least $397 million to Goliath Ventures, the CFTC alleges.
- The CFTC alleges customer funds were used for fictitious profits and Delgado’s personal expenses.
- Delgado pleaded guilty to federal criminal charges related to the alleged fraud in June 2026.
- The SEC filed a separate civil action against Delgado and Goliath Ventures on August 11.
The U.S. Commodity Futures Trading Commission has filed a complaint against Goliath Ventures Inc. and its CEO, Christopher Delgado, over an alleged $397 million crypto Ponzi scheme involving about 1,600 customers. The regulator claims the defendants collected money for crypto asset trading but misappropriated customer funds instead.
The CFTC filed the complaint in the U.S. District Court for the Middle District of Florida. The case covers funds raised for trading crypto assets, including Bitcoin and Ether. The regulator is seeking restitution for customers, financial penalties and permanent restrictions against the defendants.
CFTC Alleges Customer Funds Were Misappropriated
The complaint alleges Goliath Ventures and Delgado solicited funds from the public by claiming the money would be used for crypto trading. About 1,600 customers contributed at least $397 million to the operation, according to the CFTC.
Rather than using customer money as represented, the defendants allegedly misappropriated all of the funds. The CFTC claims some money went toward payments described as profits to existing customers, while other funds financed Delgado’s personal expenses.
Customers were also allegedly given guarantees that their original investments or profits would be returned. The complaint states that Goliath and Delgado issued account statements showing profits that did not exist, giving customers inaccurate information about their investments.
CFTC Chairman Michael S. Selig said the regulator would continue to “aggressively police fraud, abuse, and manipulation” in crypto asset markets. He said the agency also intends to develop clearer rules for companies operating legally in the United States.
CFTC Seeks Restitution and Trading Bans
The CFTC is asking the federal court to order restitution for customers affected by the alleged scheme. The regulator also seeks disgorgement of funds obtained through the alleged violations and civil monetary penalties against Goliath Ventures and Delgado.
Additional measures requested by the agency include trading and registration bans. The complaint also seeks a permanent injunction preventing the defendants from committing further violations of the Commodity Exchange Act and CFTC regulations cited in the case.
CFTC Enforcement Director David I. Miller said the agency’s enforcement division would continue addressing fraud involving digital commodities. The regulator’s action focuses on the defendants’ handling of customer funds and representations about crypto trading activities.
The civil complaint adds another regulatory case against Goliath Ventures and Delgado following separate actions connected to the same alleged operation.
Delgado Faces Parallel Criminal and SEC Actions
Delgado has already faced criminal proceedings related to the alleged fraud. In June 2026, he pleaded guilty to federal criminal charges in a case brought by the U.S. Attorney’s Office for the Middle District of Florida.
The Securities and Exchange Commission also filed a civil action against Delgado and Goliath Ventures on August 11. That case addresses their alleged roles in the same investment operation involving customer funds.
The CFTC said it received assistance from the U.S. Attorney’s Office for the Middle District of Florida and the SEC during its investigation. The federal agencies have pursued separate criminal, securities and commodities actions connected to the alleged scheme.
The CFTC’s case will proceed in federal court, where the regulator is seeking monetary recovery for customers alongside penalties and market restrictions against the defendants.
