A Florida man accused of running what is arguably the largest cryptocurrency-linked Ponzi scheme, involving $328 million, has been arrested, federal prosecutors said Wednesday.
Christopher Alexander Delgado, 34, of Apopka, Florida, was arrested on a criminal complaint accusing him of wire fraud and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida. If convicted on all charges, he faces up to 30 years in federal prison. A criminal complaint contains allegations and Delgado is presumed innocent unless and until proven guilty.
According to a global report from TRM Labs, pyramid and Ponzi schemes received approximately $6.1 billion in victim funds globally in 2025, a 49% increase from the previous year. The most recent case before Goliath Ventures involves Ramil Ventura Palafox, CEO of Praetorian Group International (PGI), who was sentenced to 20 years for deceiving more than 90,000 investors and diverting more than $62.7 million in funds.
Prosecutors allege that Delgado served as president and CEO of Goliath Ventures, formerly known as Gen-Z Venture Firm, from January 2023 to January 2026. During that period, authorities say he raised at least $328 million from investors by promising monthly returns generated through cryptocurrency “liquidity pools,” sometimes described as “guaranteed” or “low risk,” with contracts promising monthly returns of approximately 3% to 8%.
Instead of investing the funds as represented, Delgado allegedly operated Goliath as a Ponzi scheme, using money from new investors to pay supposed returns to previous backers and to fulfill withdrawal requests.
The complaint alleges that the company’s claims about utilizing capital in crypto liquidity pools were false. According to court documents, investigators said blockchain analysis showed that only about $1.5 million was sent to Uniswap, while the “vast majority” of investor funds were not placed in liquidity pools.
To build credibility and attract victims, prosecutors say Delgado relied on personal references, polished marketing materials, lavish events, charitable sponsorships and periodic payments marketed as returns. Court documents also revealed that investors were shown account updates through an online portal showing steady profits, but the reported “returns” were allegedly fabricated and adjusted to match promised rates.
The case is being investigated by IRS Criminal and Homeland Security Investigations and is being prosecuted by the U.S. Attorney’s Office in Orlando. Law enforcement officials are asking potential victims to come forward as the investigation continues.
