Investors Sue JPMorgan Over $328M Goliath Ponzi Case

Investors file suit against JPMorgan

A class action lawsuit filed in March 2026 names JPMorgan as a defendant in the collapse of Goliath Ventures, a crypto investment firm. Investors allege the bank processed funds linked to a Ponzi scheme — a fraud where returns paid to early investors come from new investors' deposits, not real profits. The lawsuit targets JPMorgan's handling of at least $253 million deposited into a Goliath Ventures account held at the bank.

Scheme defrauded over 2,000 people

Goliath Ventures collected at least $328 million from more than 2,000 investors. The firm promised monthly returns to investors, according to the DOJ criminal complaint filed in February 2026. The United States Department of Justice (DOJ) confirmed the scale of investor losses in that complaint.

"Goliath obtained at least $328 million from victim investors.", 23 February 2026. — Gregory W. Kehoe, United States Attorney, Middle District of Florida

CEO arrested on federal fraud charges

Christopher Alexander Delgado, 34, of Apopka, Florida, was arrested on 23 February 2026. Federal authorities charged him with wire fraud and money laundering under case number 6:26-mj-01240-LHP in the Middle District of Florida. The Internal Revenue Service Criminal Investigation (IRS-CI) unit assisted with the arrest alongside the DOJ.

$123 million moved to Coinbase wallet

The class action complaint states that $253 million passed through a JPMorgan account controlled by Goliath Ventures. Approximately $123 million from that account transferred to a Goliath-linked wallet on Coinbase, a US-based crypto exchange. Investors argue JPMorgan failed to flag or stop these transfers despite indicators of fraud. JPMorgan has not issued a public statement on the lawsuit. All allegations remain unproven in court.