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Man Accused of Massive Ponzi Scheme Faces Indictment
23 Jun
Summary
- Christopher Delgado operated the former company Goliath Ventures.
- Investors believed funds were in cryptocurrency, but were misused.
- Assets bought with stolen money, including homes, have been seized.
Christopher Delgado, the former operator of Goliath Ventures, is facing a potential indictment as early as Friday. Delgado is accused of orchestrating a significant Ponzi scheme that defrauded investors. Those who invested with Goliath Ventures were under the impression their money was being placed into a cryptocurrency fund.
However, Delgado has admitted that these funds were never invested as promised. Instead, he used the money to acquire personal assets, including cars and homes. Authorities have since seized all assets that Delgado purchased with the investors' money, marking a significant step in the investigation. The deadline for formal charges is approaching this Friday.
