CFTC Charges Crypto Pool Operator With $14 Million Fraud

Florida-based Goliath Ventures and its founder and chief executive, Christopher A. Delgado, marketed investments in purported crypto asset liquidity pools from January 2023 through January 2026. Investors were promised monthly returns of 3% to 10% and repayment of principal. Regulators allege no customer money or crypto assets reached those pools; instead, funds from new and existing investors were used to pay earlier participants, making the case a major test of U.S. enforcement against crypto-linked investment fraud.

On August 11, 2026, the CFTC and SEC filed separate civil actions in the U.S. District Court for the Middle District of Florida. The CFTC said about 1,600 customers contributed at least $397 million and alleged Delgado diverted at least $48 million, while the SEC counted more than 1,300 investors, at least $425 million raised and at least $51 million used personally. Delgado pleaded guilty to federal criminal charges in June and is awaiting sentencing; regulators are seeking restitution, disgorgement, penalties and permanent market bans.

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.