Goliath Ventures Files for Bankruptcy Reorganization After Its Founder Was Previously Arrested for Alleged $328 Million Ponzi Scheme

BlockBeats News, March 28th, according to The Street, U.S.-based crypto company Goliath Ventures has filed for Chapter 11 bankruptcy reorganization in the Southern District of Florida Bankruptcy Court. The company is implicated in a $3.28 billion Ponzi scheme, with over 2000 affected investors, including approximately $8.74 million in losses for Gregory Wilson and around $1.28 million for John Euliano. Furthermore, plaintiffs had filed a class-action lawsuit against JPMorgan Chase in early March, alleging turning a blind eye to Goliath Ventures' suspicious transactions.

In earlier news, former CEO of Goliath Ventures, Christopher Alexander Delgado, was arrested for his alleged involvement in the $3.28 billion Ponzi scheme, facing charges of wire fraud and money laundering. Delgado allegedly lured victims under the guise of investing in a crypto liquidity pool with promised monthly returns, but the funds were used to pay early investors, purchase luxury residences, and fund extravagant activities.