[SEC and CFTC Jointly Sue Goliath Ventures Over $400 Million Crypto Ponzi Scheme, Founder Pleads Guilty and Agrees to Settlement] BlockBeats News, August 12: The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) today filed separate civil lawsuits against Goliath Ventures and its founder Christopher Delgado, accusing them of operating a crypto Ponzi scheme through the issuance of unregistered securities. The company raised at least $425 million from over 1,300 investors, promising to invest the funds in crypto liquidity pools to generate monthly returns of 3% to 10% while guaranteeing the safety of the principal. However, none of the funds were actually invested. Instead, the company used funds from new investors to pay earlier investors, fabricated account balances and performance metrics, and paid commissions to sales agents who recruited investors. Delgado personally misappropriated at least $51 million for luxury spending. In a parallel lawsuit, the CFTC stated that approximately 1,600 clients were misled into investing in Bitcoin and Ethereum transactions, resulting in a total loss of at least $397 million. By November 2025, the company was unable to raise sufficient funds quickly enough to meet its payout obligations and collapsed completely after halting monthly dividends. Delgado had previously pleaded guilty to charges of conspiracy to commit wire fraud, wire fraud, and money laundering. On June 30, the U.S. Department of Justice stated that at least $400 million flowed into Goliath, with Delgado admitting to causing investor losses of at least $250 million. He agreed to forfeit properties, vehicles, luxury goods, bank accounts, and crypto wallets traceable to the scheme. Delgado has also agreed to a bifurcated settlement with the SEC, subject to court approval, which will permanently bar him from violating relevant securities laws, engaging in securities trading (except for personal accounts), and associating with broker-dealers. The court will separately determine the disgorgement of ill-gotten gains, prejudgment interest, and civil penalties. [Original Article Link]