The former CEO of crypto investment firm Goliath Ventures has been arrested on federal charges of wire fraud and money laundering.
Christopher Alexander Delgado, of Apopka, Florida, is accused of operating Goliath as a “Ponzi scheme” that raked in some $328 million from investors, one of whom lost some $720,000.
Goliath Ventures CEO arrested for wire fraud & money laundering. https://t.co/Us0Dvy5uq0 pic.twitter.com/82ZFkaU5Ir
— USAO Middle Florida (@USAO_MDFL) February 24, 2026
According to the complaint from the U.S. Attorney’s Office for the Middle District of Florida, the scheme involved soliciting victims to invest in crypto liquidity pools that offered “fraudulent promises of monthly returns.” Instead, it is alleged that the “vast majority” of the funds were not invested into liquidity pools, with blockchain analysis indicating that around $1.5 million of investor funds was sent to decentralized exchange Uniswap.
Goliath, formerly known as Gen-Z Venture Firm, allegedly used the funds to pay returns to earlier investors, as well as to fund “extravagant business gatherings, holiday parties, and luxury travel accommodations.” Delgado is also accused of having purchased four residential properties in Winter Park, Kissimmee, Windermere and Sanford, each worth between $1.15 million and $8.5 million, using investors’ funds.
Investors were allegedly duped with a combination of personal referrals and professional marketing materials, alongside luxury events and charitable sponsorships. Some investors, according to the DOJ, received monthly payments that were purportedly made from returns on investment, which it claims were in fact sourced from later investors.
The DOJ noted that victims identified by law enforcement will receive notice of their rights pursuant to the Crime Victims’ Rights Act, and has invited those who believe they are unidentified victims to self-identify themselves to law enforcement via a dedicated site.
What are liquidity pools?
Liquidity pools are a decentralized finance innovation that underpin much of the DeFi ecosystem. They are smart contracts that lock up crypto tokens supplied by a DeFi platform’s users, who are incentivized with token rewards in the form of yields and LP tokens.
The latter are a form of receipt that can be redeemed for rewards from the liquidity pool, proportionate to the liquidity provided—and which can often be staked themselves on other DeFi protocols, generating further yields.