A Florida man accused of running what is arguably the largest crypto-related Ponzi scheme, involving $328 million, has been arrested, federal prosecutors announced Wednesday.
Christopher Alexander Delgado, 34, of Apopka, Florida, was arrested following a criminal complaint charging him with wire fraud and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida. If convicted on all counts, he faces up to 30 years in federal prison. A criminal complaint contains allegations and Delgado is presumed innocent 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, an increase of 49% 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 in prison for misleading more than 90,000 investors and draining more than $62.7 million in funds.
Prosecutors say 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 by cryptocurrency “liquidity pools,” sometimes described as “collateralized” or “low-risk,” with contracts promising monthly returns of around 3% to 8%.
Instead of investing the funds as directed, Delgado allegedly operated Goliath as a Ponzi scheme, using money from new investors to pay purported returns to previous backers and to fulfill withdrawal requests.
The complaint alleges that the company’s claims about deploying capital into crypto liquidity pools were false. According to court documents, investigators said blockchain analysis showed only about $1.5 million was sent to Uniswap, while the “vast majority” of investors’ funds were not placed in liquidity pools.
To boost his credibility and lure victims, prosecutors say Delgado relied on personal references, polished marketing materials, luxury events, charitable sponsorships and periodic payments marketed as returns. Court documents also revealed that investors received updates to their accounts through an online portal that showed consistent gains, but the reported “returns” were allegedly fabricated and adjusted to match promised rates.
The case is being investigated by IRS Criminal Investigation and Homeland Security Investigations and is being prosecuted by the U.S. Attorney’s Office in Orlando. Law enforcement is asking potential victims to come forward as the investigation continues.
