Christopher Alexander Delgado pleaded guilty to fraud and money laundering charges over a crypto investment scheme that prosecutors said took at least $400 million from investors. He admitted causing at least $250 million in losses and is scheduled to be sentenced on October 8.
Christopher Alexander Delgado pleaded guilty to fraud and money laundering charges over a crypto investment scheme that prosecutors said took at least $400 million from investors. He admitted causing at least $250 million in losses and is scheduled to be sentenced on October 8.
The case highlights the risks surrounding investment operations that use crypto terminology and promises of consistent returns. Prosecutors said Goliath Ventures, previously known as Gen-Z Venture Firm, attracted investors with claimed monthly payouts from crypto liquidity pools.
Christopher Alexander Delgado, the former CEO of Goliath Ventures, pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering in connection with a $400 million crypto Ponzi scheme, according to U.S. prosecutors. The Florida resident entered the plea on Tuesday.
The case highlights the risks surrounding investment operations that use crypto terminology and promises of consistent returns. Prosecutors said Goliath Ventures, previously known as Gen-Z Venture Firm, attracted investors with claimed monthly payouts from crypto liquidity pools.
The company solicited funds from at least January 2023 through January 2026. Prosecutors previously said it raised at least $328 million while advertising guaranteed or low-risk monthly returns of 3% to 8%. Delgado admitted causing at least $250 million in investor losses.
Authorities said investor funds were used to pay earlier participants, finance withdrawals and support luxury spending. Purchases included residential properties, high-end vehicles, watches, designer bags and jewelry.
Under the plea agreement, Delgado agreed to forfeit eight properties, 11 vehicles, 30 watches, more than 50 luxury bags and wallets, at least 29 pieces of jewelry, and several bank and crypto accounts. He faces up to 20 years in prison for each fraud count and up to 10 years for money laundering, with sentencing scheduled for October 8.
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