Crypto company Goliath Ventures has filed for bankruptcy after its CEO was arrested over a $328M Ponzi scheme.

Florida-based crypto company Goliad Ventures has filed for Chapter 11 bankruptcy protection following the arrest of its CEO, Christopher Delgado, on federal charges of wire fraud and money laundering in connection with a Ponzi scheme that netted at least $328 million from more than 2,000 investors.

According to a recent U.S. Bankruptcy Court filing in the Southern District of Florida, the company's debt could be as high as $500 million, with $1 million to $10 million available to pay.

Several major companies are being subpoenaed to determine whether they knew about the role of investors and suspicious activity in connection with the Goliath Ventures Ponzi scheme.

Investors in Goliath Ventures are targeting JPMorgan Chase in a class action alleging the bank enabled a $328 million Ponzi scheme.

According to the complaint filed earlier this month, Delgado funneled most of the money into a Key Chase account, paying back previous investors and diverting millions to himself. The lawsuit alleges that the bank is seeking compensation for all investors who were harmed because it failed to detect the fraud even though it complied with regulatory requirements and regulatory obligations.

Criminal charges against Delgado

Delgado, 34, of Apopka, Florida, was taken into custody on Feb. 24 in connection with the felony charges filed by the U.S. Attorney's Office for the Middle District of Florida.

According to the complaint, Delgado ran Goliad Ventures, formerly known as Gen-Z Venture Firm, from January 2023 to January 2026, and misled victims with fabricated claims that their capital would be invested in crypto liquidity pools and generate consistent profits.

Prosecutors said the promised yield ranged from 3% to 8% per annum.

In fact, investigators say, most of the proceeds were recycled to pay early participants or diverted to cover lavish corporate expenses, luxury trips and Delgado's personal real estate portfolio, which federal authorities said included four properties valued between $1.15 million and $8.5 million each.

Early warnings and independent investigations

The red flags surrounding Goliath's operations began to appear publicly in 2010. By the end of 2025, investors are told that monthly distributions will decrease and then stop altogether.

YouTube investigator Stephen Findison, known as Coffizilla, contacted Delgado directly about the missed payments in January.

I asked founder Chris Delgado about the lack of a distribution to investors, and he replied, “Operations will return to normal…December 15-18.”

A month has passed and the payments still haven't started. pic.twitter.com/3TGnQxYJhA

— Coffeezilla (@coffeebreak_YT) January 25, 2026

In early February, investigative journalist Danny de Heck publicly exposed the suspected wallets and called on victims, insiders and whistleblowers to share transaction records, screenshots and on-chain information to help trace the flow of funds.

The crowd-based forensics effort identified several wallet addresses believed to have been used for temporary payments, and analysts noted patterns consistent with previous internal withdrawals and dusting operations.