Florida Man Charged With Running $328 Million Crypto Ponzi Scheme
Goliath Ventures, formerly known as Gen-Z Venture Firm, solicited funds from January 2023 to January 2026 by claiming to invest in cryptocurrency liquidity pools and promising fixed or low-risk monthly returns of 3% to 8%. In fact, only about $1.5 million flowed into Uniswap, while most of the money was used to pay earlier investors, fund withdrawals and cover lavish spending.
Christopher Alexander Delgado, 34, was arrested on February 24, 2026, when the scheme was valued at at least $328 million. He pleaded guilty on June 30 to conspiracy to commit wire fraud, wire fraud and money laundering. Prosecutors now say the operation raised at least $400 million and caused losses of at least $250 million. Sentencing is scheduled for October 8.
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The history behind this eventUS Indicts Crypto Investor Over Alleged $20 Million Fraud Scheme
The case centers on South Dakota investor Wenner, who allegedly used his company Benaiah to solicit money from the public and carry out a cryptocurrency investment fraud totaling as much as $20 million. The Justice Department’s and a federal grand jury’s active involvement underscores the US government’s enforcement push on virtual-asset regulation and money laundering. It also serves as a warning to investors about emerging forms of Ponzi schemes.
A US federal grand jury has formally indicted Wenner, 43. He pleaded not guilty to all charges during a federal court appearance on July 10, 2026, and has been released on bail. His trial is scheduled to begin on September 15, 2026. If convicted of the alleged wire fraud, money laundering and bank fraud, he could face up to 30 years in prison and substantial fines.
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