A Florida man accused of running what is arguably the largest crypto-linked Ponzi scheme involving $328 million has been arrested, federal prosecutors said Wednesday.
Christopher Alexander Delgado, 34, of Apopka, Florida, was taken into custody on 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 of all counts, he faces up to 30 years in prison. A criminal complaint contains allegations and Delgado is presumed innocent unless and until proven guilty.
According to a global report by TRM Labs, pyramid and Ponzi schemes received around US$6.1 billion in victim funds globally in 2025, a 49% increase from the previous year. The latest 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 over $62.7 million in funds.
Prosecutors allege 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 allege he raised at least $328 million from investors by promising monthly returns generated through cryptocurrency “liquidity pools,” sometimes described as “returns” or “progumisarante” of a month. of around 3% to 8%.
Instead of investing the funds as represented, Delgado allegedly ran Goliath as a Ponzi scheme, using money from new investors to pay alleged returns to former backers and to accommodate withdrawal requests.
The complaint alleges that the firm’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 build credibility and attract victims, prosecutors say Delgado relied on personal referrals, polished marketing materials, luxury events, charitable sponsorships and periodic payments marketed as returns. The court documents also revealed that investors were shown account updates via an online portal that showed consistent gains, but the reported “returns” were allegedly fabricated and adjusted to match promised prices.
The case is being investigated by IRS Criminal Investigation and Homeland Security Investigations and prosecuted by the US Attorney’s Office in Orlando. Law enforcement officials are asking potential victims to come forward as the investigation continues.
