Overview
- Goliath Ventures, which filed for Chapter 11 in the Southern District of Florida, sought court protection after the Feb. 24 arrest of CEO Christopher Delgado on wire fraud and money laundering charges.
- Court filings say liabilities could reach $500 million with only $1 million to $10 million available to repay, signaling thin recoveries for investors.
- Prosecutors allege the firm raised at least $328 million from more than 2,000 people by claiming their money would earn steady returns in crypto liquidity pools.
- Investigators say most new deposits paid earlier participants and covered luxury travel and four homes valued between $1.15 million and $8.5 million.
- Investors have sued JPMorgan Chase in a proposed class action that claims the bank ignored red flags in a key Goliath account, and investigators have subpoenaed major companies for records on how funds were handled.