According to ChainCatcher, The Street reports that Florida-based crypto company Goliath Ventures has filed for Chapter 11 bankruptcy reorganization in the Southern District of Florida.
The company is suspected of being linked to a $328 million Ponzi scheme that defrauded more than 2,000 investors, including Gregory Wilson, who lost approximately $8.74 million, and John Euliano, who lost approximately $1.28 million. Furthermore, a class-action lawsuit was filed against JPMorgan Chase early the following month, accusing it of ignoring suspicious transactions by Goliath Ventures.
Christopher Alexander Delgado, former CEO of Goliath Ventures, was arrested on suspicion of running a Ponzi scheme worth approximately $328 million and faces charges of wire fraud and money laundering. Delgado lured victims by promising monthly returns on investments in crypto liquidity pools, but the funds were used to pay returns to early investors, purchase luxury homes, and fund extravagant activities.
