Florida-based crypto company Goliath Ventures has filed for Chapter 11 bankruptcy protection following the arrest of its chief executive officer, Christopher Delgado, who faces federal wire fraud and money laundering charges in connection with an alleged Ponzi scheme that siphoned off at least $328 million from more than 2,000 investors.
According to a recent filing with the U.S. Bankruptcy Court for the Southern District of Florida, the company’s liabilities could reach $500 million, with between $1 million and $10 million available for repayment.
A number of major companies are being subpoenaed in connection with the Goliath Ventures Ponzi scheme to determine their role in managing investor funds and whether they were aware of suspicious activity.
Goliath Ventures investors are targeting JPMorgan Chase in a class-action lawsuit, claiming the bank enabled a $328 million Ponzi scheme.
According to a complaint filed earlier this month, Delgado funneled most of the funds through a key Chase account, paying returns to previous investors and embezzling millions for himself. The suit alleges that the bank failed to detect the fraud despite monitoring systems and regulatory requirements, and it seeks damages for all affected investors.
Criminal charges against Delgado
Delgado, a 34-year-old resident of Apopka, Florida, was taken into custody on February 24 following a criminal complaint filed by the U.S. Attorney’s Office for the Middle District of Florida.
According to the complaint, Delgado ran Goliath Ventures, formerly known as Gen-Z Venture Firm, from January 2023 to January 2026, luring victims with fabricated claims that their capital would be deployed in crypto liquidity pools and generate consistent returns.
Prosecutors say the promised returns ranged from about 3 to 8 percent on an annual basis.
In reality, investigators say, the vast majority of incoming funds were recycled to pay early participants or diverted to cover lavish corporate expenses, luxury trips and Delgado’s personal real estate portfolio, which federal authorities say includes four properties valued between $1.15 million and $8.5 million each.
Early warnings and independent investigations
Red flags surrounding Goliath’s operations began to surface publicly in late 2025, when monthly distributions to investors reportedly slowed and then stopped altogether.
Stephen Findeisen, the YouTube investigator known as Coffeezilla, directly confronted Delgado about the missed payments in January.
I asked founder Chris Delgado about the lack of distributions to investors, and he said “operations will return to normal… December 15-18.”
It’s been a month and payments have not resumed. pic.twitter.com/3TGnQxYJhA
– Cafézilla (@coffeebreak_YT) January 25, 2026
In early February, investigative journalist Danny De Hek publicly cataloged suspicious distribution wallets and called on victims, insiders and whistleblowers to share transaction records, screenshots and on-chain data to help trace the flow of funds.
The crowdsourced investigative effort identified several wallet addresses that were allegedly used for periodic payments, and analysts reported patterns consistent with early insider withdrawals and so-called dust-hogging activity.
