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The former CEO of Goliath Ventures was arrested for allegedly operating a $328 million cryptocurrency Ponzi scheme
According to Decrypt, the U.S. Attorney's Office for the Middle District of Florida stated that Christopher Alexander Delgado, the former CEO of the cryptocurrency investment firm Goliath Ventures, was arrested for allegedly operating a $328 million "Ponzi scheme" and faces charges of wire fraud and money laundering, which could result in a maximum sentence of 30 years in prison.
The indictment shows that Delgado lured victims under the guise of investing in a cryptocurrency liquidity pool and promising monthly returns, but the funds were used to pay returns to earlier investors, purchase luxury homes, and finance extravagant activities. The monthly returns received by investors actually came from the funds of later investors. Victims confirmed by law enforcement will receive notice of their rights.
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