SEC, CFTC Sue Goliath Ventures Over Alleged $425M Crypto Ponzi

Delgado agreed to a bifurcated settlement with the SEC, subject to court approval. The deal would permanently restrict him from violating the securities laws cited in the complaint, participating in most securities transactions and acting as or associating with a broker or dealer. Disgorgement, prejudgment interest and a civil penalty will be determined later. The CFTC is separately also seeking restitution, disgorgement, monetary penalties, trading and registration bans, and a permanent injunction.

The civil cases follow Delgado's June 30 guilty plea to conspiracy to commit wire fraud, wire fraud and money laundering. Federal prosecutors said at least $400 million was paid to Goliath and Delgado admitted causing at least $250 million in investor losses.

The government is also pursuing assets that were allegedly purchased with investor money. A DOJ forfeiture action targets seven properties and 11 vehicles. Prosecutors allege that about $17 million went toward homes and office space and more than $2.5 million toward vehicles. Delgado has separately agreed to forfeit additional luxury assets, bank accounts and crypto accounts.

The DOJ's latest case page lists Delgado's sentencing for Oct. 21, 2026, and says the criminal investigation is still ongoing.