TechFlow News, February 26: According to a report by Decrypt, Christopher Alexander Delgado, former CEO of Goliath Ventures in Apopka, Florida, was arrested by federal authorities for allegedly operating a $328 million cryptocurrency Ponzi scheme. He faces charges of wire fraud and money laundering.
According to the U.S. Department of Justice’s Middle District of Florida U.S. Attorney’s Office, Delgado lured investors into contributing funds to cryptocurrency liquidity pools by falsely promising high monthly returns. In reality, most of these funds were diverted to pay returns to earlier investors and to finance Delgado’s personal lavish lifestyle—including purchasing a multi-million-dollar mansion and hosting extravagant events. Blockchain analysis shows that only approximately $1.5 million of investor funds were sent to the decentralized exchange Uniswap.
The Department of Justice has established a dedicated website inviting potential victims to self-identify. If convicted, Delgado faces up to 30 years in prison.
