SEC, CFTC Charge Goliath Ventures in $425M Crypto Ponzi Scheme

The Commodity Futures Trading Commission filed its own civil complaint the same day. The CFTC alleged that roughly 1,600 customers contributed at least $397 million after being solicited for crypto asset trading, primarily Bitcoin and Ether, through decentralized liquidity pools. The agency seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction.

These civil actions follow criminal proceedings that began earlier. Federal prosecutors arrested Delgado in February 2026 on wire fraud and money laundering charges. In June he pleaded guilty to conspiracy to commit wire fraud, wire fraud, and money laundering. He admitted responsibility for at least $250 million in investor losses.

Authorities have identified total investor contributions approaching or exceeding $400 million. Delgado has agreed to forfeit multiple real properties, vehicles, watches, luxury handbags, jewelry, and other assets purchased with the proceeds. Sentencing in the criminal case is set for later in 2026.

Delgado has also agreed to a bifurcated settlement with the SEC, subject to court approval. The proposed resolution would permanently bar him from future securities law violations, with monetary remedies to be determined later. The company itself is in receivership and bankruptcy proceedings aimed at recovering assets for victims.

The case highlights the risks of unregistered crypto investment products that promise high, steady returns with little apparent risk. Guarantees of principal and outsized monthly yields, especially when tied to opaque digital asset strategies, warrant careful independent verification.