Florida Man Charged for Running $328M Crypto Ponzi Scheme

A Florida man has been arrested for allegedly running a $328 million crypto Ponzi scheme through a company called Goliath Ventures, federal prosecutors announced on Wednesday. Christopher Alexander Delgado, 34, of Apopka, Florida, faces wire fraud and money laundering charges, according to the U.S. Attorney's Office for the Middle District of Florida. A conviction on all counts carries up to 30 years in federal prison.

What Is the Goliath Ventures Crypto Ponzi Scheme?

Goliath Ventures is the firm at the heart of what prosecutors call one of the largest crypto Ponzi schemes in recent years. Formerly known as Gen-Z Venture Firm, the company was led by Delgado as president and CEO from January 2023 through January 2026, according to the criminal complaint. Authorities allege he raised at least $328 million by promising monthly returns from cryptocurrency liquidity pools, with contracts citing payouts of roughly 3% to 8% per month, sometimes described as "guaranteed" or "low risk."

Instead of deploying that capital, Delgado allegedly operated Goliath as a classic Ponzi scheme, using new investor deposits to pay earlier backers and cover withdrawal requests, according to court filings. Blockchain analysis by investigators showed only about $1.5 million was ever sent to Uniswap, while the "vast majority" of funds never entered any liquidity pools. Investors were shown fabricated gains through an online portal calibrated to match the promised rates, prosecutors allege.

How Did Delgado Attract Investors?

Prosecutors say Delgado built credibility through personal referrals, polished marketing materials, luxury events, and charitable sponsorships, according to court documents. These tactics sustained a steady flow of new capital needed to keep the scheme afloat. The criminal complaint contains allegations only, and Delgado is presumed innocent unless proven guilty.

The case is being investigated by IRS Criminal Investigation and Homeland Security Investigations, with prosecution handled by the U.S. Attorney's Office in Orlando. Law enforcement officials have urged potential victims to come forward as the probe continues.

How Big Is the Crypto Ponzi Problem?

The Goliath Ventures prosecution arrives amid a global surge in crypto fraud. Pyramid and Ponzi schemes collected approximately $6.1 billion in victim funds worldwide during 2025, a 49% increase from the prior year, according to a TRM Labs global report. The most recent major case before this one involved Ramil Ventura Palafox, CEO of Praetorian Group International, who received 20 years for defrauding more than 90,000 investors out of over $62.7 million. The jump from PGI's tens of millions to Goliath's alleged hundreds of millions signals an escalating threat that federal authorities are working to contain.