Apopka Man Enters Guilty Plea for $400+ Million Cryptocurrency Ponzi Scheme

Christopher Delgado, of Apopka, entered a guilty plea to charges of conspiracy to commit wire fraud, wire fraud, and money laundering for his role in operating one of the largest cryptocurrency investment fraud schemes prosecuted in the Middle District of Florida.

Delgado – through his company Goliath Ventures Inc., related business entities, and online platforms – marketed cryptocurrency investment products to the public by promising consistent returns and low risk. Victims were induced to transfer funds under the belief that their money would be professionally managed and placed into legitimate cryptocurrency investments. However, little to no legitimate trading activity occurred and Delgado admitted investor funds were instead used for his personal benefit and to pay previous investors. As victims sought account statements, proof of trading activity, and withdrawals, Delgado employed repeated diversionary tactics and misrepresentations to keep them from filing complaints. Victims who attempted to make withdrawals were met with delays, excuses, or demands for additional payments. Delgado admitted that the fraudulent scheme resulted in at least $250 million in investor losses. As part of the plea agreement, Delgado agreed to forfeit assets directly traceable to the criminal proceeds, including properties, vehicles, luxury accessories, as well as bank accounts and cryptocurrency accounts.

The OFR partnered with the Internal Revenue Service Criminal Investigation, the Department of Homeland Security Homeland Security Investigations, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, and the British Columbia Securities Commission in this criminal enforcement action.

Read the press release.