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CFTC alleges Goliath ran a $397M DeFi liquidity pool Ponzi scheme
The CFTC says Goliath never deployed customer bitcoin or ether into liquidity pools, instead moving funds to Ponzi payments, internal commissions, and CEO spending.
The U.S. Commodity Futures Trading Commission sued Goliath Ventures Inc. and its chief executive, Christopher Delgado, alleging the Florida company raised at least $397 million from about 1,600 customers by promising to place customers' bitcoin and ether into decentralized exchange liquidity pools.
In a complaint filed in federal court in Orlando, the CFTC alleges Goliath ran a Ponzi scheme from at least November 2022 through February 2026, misappropriating customer funds while sending account statements that reflected profits the company had not earned. The agency also says Delgado was never registered with the CFTC and is named as a controlling person liable for the conduct.
The filing says customer money was diverted in multiple directions, including about $87 million used for Ponzi payments to other customers, about $174 million transferred to Goliath directors and staff as recruiting commissions, and at least $48 million taken by Delgado for luxury homes, vehicles, and jewelry. The CFTC also alleges additional funds went to corporate credit cards, including spending on travel, apparel, and concierge services, and it says about $838,000 traced from customer deposits bought a yacht in September 2025.
The complaint describes Goliath's marketing as a yield business and cites a 2023 slide deck pitching “3% Monthly” or “36% Annual” returns, along with joint venture agreements that promised return of principal and, in some cases, guaranteed monthly profits up to 5%. It also alleges Goliath created its own compliance cover, including an August 2025 “Independent Evaluation Report,” and that after investigative claims surfaced in September 2025, the company sent a cease-and-desist letter threatening a defamation suit.
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