Overview
- An investor-led proposed class action was filed March 10 in the U.S. District Court for the Northern District of California, accusing the bank of enabling Goliath Ventures’ fraud.
- Court filings trace roughly $253 million into a Chase account from 2023 to mid‑2025, with about $123 million transferred to Coinbase wallets prosecutors say were controlled by Goliath.
- Plaintiffs allege the bank ignored AML/KYC red flags and allowed the scheme to operate, and they seek damages plus disgorgement of fees allegedly earned on the accounts.
- Prosecutors say the operation raised about $328 million from more than 2,000 investors, paid only around $50 million as purported returns, and led to CEO Christopher Delgado’s February arrest on wire‑fraud and money‑laundering charges.
- Federal filings also identify a Bank of America business account tied to Goliath, a receiver has been appointed in Florida to oversee assets, and Coinbase says it is not a party to the civil suit.