Christopher Alexander Delgado, the former CEO of Goliath Ventures, pleaded guilty to fraud and money laundering charges stemming from a crypto investment scheme prosecutors said stole at least $400 million from investors.
Delgado, a Florida resident, pleaded guilty Tuesday to conspiracy to commit wire fraud, wire fraud and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida.
He faces up to 20 years in prison for each fraud count and up to 10 years on the money laundering count.
Goliath Ventures, formerly Gen-Z Venture Firm, solicited investors from at least January 2023 through January 2026 with pitches for monthly payouts it claimed came from crypto liquidity pools, prosecutors said. Delgado admitted in his plea agreement to causing at least $250 million in investor losses.
Investor money was used to pay earlier investors, fund withdrawals and cover luxury spending, according to prosecutors. Delgado bought at least 6 residential properties worth between $1.15 million and $8.5 million each, plus Lamborghinis, Rolls-Royces, Rolex watches, dozens of Louis Vuitton bags and custom Tiffany jewelry, with the funds.