Former Goliath Ventures CEO pleads guilty in $400M crypto Ponzi scheme

Christopher Alexander Delgado, the former CEO of Goliath Ventures, has pleaded guilty to charges of wire fraud, conspiracy to commit wire fraud, and money laundering in a U.S. cryptocurrency Ponzi scheme case, The Block reported. Goliath Ventures was found to have operated a Ponzi scheme of at least $400 million under the pretext of investing in crypto liquidity pools. Delgado admitted to causing $250 million in losses to investors, using the funds to purchase luxury homes and high-end cars. He faces a potential sentence of up to 20 years for the individual fraud charges and up to 10 years for money laundering. As part of his plea agreement, Delgado has agreed to forfeit the house and vehicles to the government.