JPMorgan Chase Sued by Investors for Alleged Involvement in Goliath Crypto Ponzi Scheme

Techub News reports that the law firms Shaw Lewenz, Sonn Law Group, and Schwartzbaum have filed a class action lawsuit on behalf of a group of investors in the U.S. District Court for the Northern District of California, accusing JPMorgan Chase of ignoring suspicious transactions and allowing the crypto Ponzi scheme Goliath to use its infrastructure to collect investor funds. The lawsuit alleges that from January 2023 to May or June 2025, JPMorgan Chase was Goliath's sole banking institution. Previously, the CEO of Goliath has been arrested and, if convicted on all charges, faces up to 30 years in federal prison.