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Techub News, according to Cointelegraph, investors have sued JPMorgan Chase, accusing it of facilitating the flow of funds to Goliath Ventures, a suspected Ponzi scheme. Documents show that approximately $253 million was deposited into the bank's accounts between 2023 and 2025, of which $123 million was transferred to Goliath’s Coinbase wallet. Investors allege that JPMorgan, through its due diligence obligations, knew that Goliath was operating unlicensed cryptocurrency investment products. Goliath’s head, Delgado, claims to be cooperating with federal law enforcement in investigating former colleagues involved in the case. The court has now extended the lawsuit filing deadline to June 26.
Techub News reported, according to The Street, that cryptocurrency company Goliath Ventures has filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Southern District of Florida. This procedure allows the company to reorganize under court supervision, suspend customer withdrawals, and repay creditors, rather than undergo direct liquidation. The bankruptcy filing is closely linked to the arrest of the company's founder and CEO, Christopher Delgado, who was indicted on February 24 on charges of wire fraud and money laundering. If convicted, he could face up to 30 years of federal imprisonment. Law enforcement agencies allege that from January 2023 to January 2026, Delgado operated the company as a Ponzi scheme, luring investor funds with promises of "high monthly returns from crypto liquidity pools." The funds were then used to pay returns and principal to earlier investors, as well as to support the company's lavish activities and high-end travel expenses. The investigation also revealed that he personally used related funds to purchase four residential properties, valued between approximately $1.15 million and $8.5 million each. The scheme affected over 2,000 investors, with some victims suffering losses as high as several million dollars.
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.
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