JPMorgan is being sued by investors for alleged involvement in a $328 million cryptocurrency Ponzi scheme.

According to Mars Finance, investors filed a class-action lawsuit on Tuesday in the U.S. District Court for the Northern District of California, accusing JPMorgan of failing to prevent suspicious transactions in a $328 million crypto Ponzi scheme operated by the now-defunct Goliath Ventures and allowing the company to use its banking infrastructure to collect investor funds. The lawsuit alleges that JPMorgan provided sole banking services to Goliath from January 2023 to May or June 2025, during which time Goliath obtained at least $328 million from over 2,000 investors. Approximately $253 million was deposited into JPMorgan's 0305 account, and approximately $123 million was transferred to Goliath's wallet held on Coinbase. Previously, the U.S. Attorney's Office for the Central District of Florida announced the arrest of Goliath CEO Christopher Delgado on February 24, who faces a maximum of 30 years in federal prison. Prosecutors allege that Goliath (formerly known as Gen-Z Venture Firm) operated the scam from January 2023 to January 2026. Another criminal complaint shows that Goliath also held a business account with Bank of America, with Delgado as a co-signer of that account.