The Commodity Futures Trading Commission has charged Goliath Ventures Inc. and its CEO, Florida resident Christopher Delgado, with running a Ponzi scheme built on fraudulent solicitations for bitcoin and ether trading.
The complaint was filed in the U.S. District Court for the Middle District of Florida.
Roughly 1,600 customers contributed at least $397 million to the scheme, while Delgado and Goliath misappropriated all customer funds. They funded Delgado’s personal spending, and issued account statements showing profits that did not exist. Some existing customers received fictitious profitsout of new deposits.
The CFTC is seeking restitution, disgorgement, civil penalties, trading and registration bans, and a permanent injunction under the Commodity Exchange Act.
Delgado pleaded guilty to related federal criminal charges in June 2026, and the SEC filed its own civil action against Delgado and Goliath on August 11, 2026.
A String of Crypto-Ponzi Cases
Goliath is the largest in a series of crypto-Ponzi actions the CFTC has brought this year. In July, the agency charged Trevor L. Vernon and his firm, Argent Capital Management LLC, in the Western District of North Carolina.
The complaint alleges the pair fraudulently solicited over $14 million from at least 60 participants between March 2022 and February 2026, sent investors fabricated performance reports, and used new investor money to pay existing ones to hide the pool’s losses.
CFTC Chairman Michael Selig said the agency would “continue to aggressively police fraud, abuse, and manipulation in the crypto asset markets to ensure that bad actors are punished, while developing clear rules of the road so that good actors have the opportunity to build on American soil.”
A Mixed Enforcement Backdrop
In July 2026, the Department of Justice moved to drop charges against Colorado’s Matthew Goettsche, accused of defrauding investors of $722 million through his BitClub Network mining operation.
The deputy attorney general’s office ordered the case dismissed with prejudice, which was a reversal from February, when prosecutors told the court a trial was necessary. A DOJ spokesperson denied the reversal had anything to do with lobbying by Goettsche’s legal team.
SEC enforcement activity has also slowed. Actions against public companies fell to a 16-year low in the first half of fiscal 2026, with five recorded against public companies and subsidiaries – up slightly from three in the prior half-year period, according to Cornerstone Research figures cited by AML Intelligence.
Goliath Ventures and Delgado had not filed a response to the CFTC complaint as of publication.
This article was written by Tanya Chepkova at www.financemagnates.com.
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