Three class-action lawsuits have been filed in the wake of federal charges against Christopher Delgado, the founder and former chief executive of Goliath Ventures, including one case accusing JPMorgan Chase of helping enable an alleged $328-million cryptocurrency Ponzi scheme, according to the Orlando Sentinel.

Delgado was arrested February 24 and charged with wire fraud and money laundering. Prosecutors say he defrauded investors of at least $328 million and used their money to fund a lavish lifestyle that included luxury homes, cars, and watches, the Sentinel reported.

In the case against JPMorgan Chase, investor Robby Alan Steele alleges the bank aided and abetted the scheme by allowing Goliath to use its banking system to collect and move hundreds of millions of dollars in suspicious transactions, the Sentinel reported. Chase was Goliath’s sole bank between January 2023 and June 2025, when more than 2,000 individuals invested at least $328 million in the firm, Banking Dive reported. 

Approximately $253 million of that sum was deposited into a Goliath account with the lender between January 2023 and June 2025 and $50 million was sent from that account to investors as purported returns during the same period, according to the Sentinel. Goliath transferred roughly $123 million from the Chase account to cryptocurrency exchange Coinbase, which is not named as a defendant in the case, Banking Dive said. 

“Chase could see that new investors were getting paid with old investors’ money. That is the biggest red flag of a Ponzi,” attorney Adam Schwartzbaum, who represents Steele, told the Sentinel.

A separate lawsuit accuses Atlanta-based law firm Alston & Bird of helping enable the scheme by drafting agreements investors signed, the Sentinel reported. The lawsuit alleges the firm misled investors about the legality, risks, and regulatory status of Goliath’s program, the Sentinel reported. 

A third class-action lawsuit, filed in federal court in Florida by New York-based T&C Investing Corp., accuses Delgado and Goliath of fraud, the newspaper said. The company alleges it invested $1.1 million in Goliath between December 2024 and September 2025 and received about $211,000 in returns.

Read more at the Orlando Sentinel 

Read more at Banking Dive