$328 Million Crypto Pyramid Scheme
Florida man charged over alleged $328M crypto Ponzi scheme targeting investors.
A 34-year-old Florida resident has been arrested on charges of running one of the largest cryptocurrency-related Ponzi schemes in recent years. According to federal prosecutors, the case involves at least $328 million.
Christopher Alexander Delgado of Apopka has been charged with wire fraud and money laundering, the U.S. Attorney’s Office for the Middle District of Florida announced. If convicted on all counts, he faces up to 30 years in federal prison. At this stage, however, the charges are only allegations, and Delgado is presumed innocent unless and until proven guilty in court.
Investigators say that from January 2023 to January 2026, Delgado served as president and CEO of Goliath Ventures, formerly known as Gen Z Venture Firm. During that time, he allegedly raised at least $328 million from investors.
Clients were promised monthly returns ranging from approximately 3% to 8%, supposedly generated through investments in cryptocurrency liquidity pools. These opportunities were marketed as guaranteed or low-risk.
According to prosecutors, however, the funds were not invested as claimed. Instead of legitimate trading activity, authorities allege that the operation functioned as a classic Ponzi scheme, in which money from new investors is used to pay earlier participants and fulfill withdrawal requests.
Blockchain analysis reportedly showed that only about $1.5 million was transferred to the Uniswap platform, while the vast majority of funds were never placed into liquidity pools.
To build credibility, the company allegedly relied on referrals, professional marketing materials, luxury events, charitable sponsorships, and regular payouts presented as profits. Investors were given access to an online dashboard displaying steady capital growth. However, investigators claim that the reported results were fictitious and manipulated to match the promised return rates.
The case is being investigated by tax and homeland security authorities, with oversight from federal prosecutors in Orlando. Law enforcement officials are urging potential victims to come forward.
