The U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement complaint in the U.S. District Court for the Middle District of Florida against Goliath Ventures Inc. and its CEO, Christopher Delgado, a Florida resident. The complaint alleges that the defendants operated a Ponzi scheme involving crypto asset trading, including in bitcoin and ether.
According to the CFTC, Goliath Ventures and Delgado fraudulently solicited and accepted funds from the public by representing that customer money would be used for crypto asset trading. Instead, the complaint asserts that the defendants misappropriated all customer funds. The alleged misappropriation included paying fictitious profits to existing customers and funding Delgado's lavish lifestyle.
The CFTC contends that the defendants falsely guaranteed the return of principal investments and/or profits and issued false account statements reflecting nonexistent profits. In total, approximately 1,600 customers are alleged to have contributed at least $397 million to the defendants' scheme.
CFTC Enforcement Action and Requested Relief
In its complaint, the CFTC seeks restitution for defrauded customers, disgorgement of ill-gotten gains, and civil monetary penalties. The agency is also pursuing trading and registration bans against the defendants, as well as a permanent injunction to prevent further violations of the Commodity Exchange Act and CFTC regulations.
CFTC Chairman Michael S. Selig stated that the agency will continue to "aggressively police fraud, abuse, and manipulation in the crypto asset markets" to ensure that bad actors are punished while clear rules are developed for compliant market participants. He added that the action underscores the CFTC's commitment to addressing misconduct in crypto asset markets.
Director of Enforcement David I. Miller emphasized that the Division of Enforcement remains an "important cop on the beat" in addressing fraud involving digital commodities. He noted that the CFTC will continue to take action to protect markets and the public from misconduct.
Related Criminal and Regulatory Actions
The complaint notes related actions by other authorities. In June 2026, in connection with a criminal case brought by the U.S. Attorney's Office for the Middle District of Florida, Christopher Delgado pleaded guilty to federal criminal charges arising from his role in the fraud. Subsequently, on August 11, 2026, the Securities and Exchange Commission filed a separate civil action against Delgado and Goliath Ventures for their roles in the same scheme.
The combination of civil and criminal proceedings by the CFTC, the U.S. Attorney's Office, and the SEC reflects a coordinated regulatory and law enforcement response to the alleged large-scale fraud involving digital commodity markets.
