Christopher Alexander Delgado, former CEO of Goliath Ventures, pleaded guilty to fraud and money laundering charges stemming from a cryptocurrency investment scheme that prosecutors say stole at least $400 million from investors.
Delgado, a Florida resident, pleaded guilty Tuesday to conspiracy to commit wire fraud, wire fraud and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida.
He faces up to 20 years in prison on each fraud count and up to 10 years on the money laundering charge.
Goliath Ventures, formerly Gen-Z Venture Firm, solicited investors from at least January 2023 to January 2026 with offers for monthly payments that it claimed came from crypto liquidity pools, prosecutors said. Delgado admitted in his plea agreement to causing at least $250 million in losses to investors.
According to prosecutors, the investors’ money was used to pay previous investors, withdraw funds and cover luxury expenses. With the funds, Delgado purchased at least 6 residential properties worth between $1.15 million and $8.5 million each, in addition to Lamborghinis, Rolls-Royces, Rolex watches, dozens of Louis Vuitton bags and personalized Tiffany jewelry.
