Federal officials said the CEO of Goliath Ventures used the company as a “Ponzi scheme” from 2023 to 2026.
ORLANDO, Fla. — The CEO of an Orlando-based cryptocurrency investment firm is facing up to 30 years in prison for leading an over $300 million fraud scheme, the U.S. Attorney’s Office announced.
Christopher Alexander Delgado, CEO of Goliath Ventures, formerly known as Gen-Z Venture Firm, was arrested after federal authorities say he used the company as a “Ponzi scheme” from 2023 to 2026.
Officials said the 34-year-old Orange County man solicited people to invest large amounts of money under false and fraudulent promises of monthly returns generated through cryptocurrency “liquidity pools.”
Those who were solicited would reportedly give money to Goliath through personal referrals, professional marketing materials, luxury events, charitable sponsorships and some monthly payments of purported returns. These were used to establish the company’s bona fides with investors, investigators explained.
In total, the Attorney’s Office said Goliath received at least $328 million from solicited investors.
Despite claims from the company that it would place the money in cryptocurrency liquidity pools, the Department of Justice claims it was used to purported returns to earlier investors, to return principal to investors who requested it and for business gatherings such as holiday parties and travel.
The DOJ says Delgado used the money to buy four residential properties, each worth between $1.15 million and $8.5 million.
Delgado is charged with wire fraud and money laundering. His case is currently being investigated by the Internal Revenue Service Criminal Investigation and Homeland Security Investigations.
The U.S. Attorney’s Office is asking anyone who may have been a victim in this case to email Goliathvictims@ci.irs.gov.