JPMorgan Sued Over $328M Crypto Ponzi Scheme

JPMorgan is being sued in a proposed class action by investors who allege the bank ignored suspicious transactions and allowed the now-defunct Goliath Ventures to use its infrastructure to collect $328 million from over 2,000 investors in a crypto Ponzi scheme. The lawsuit claims JPMorgan knew Goliath was operating as an unlicensed cryptocurrency pool operator. Goliath CEO Christopher Delgado was arrested in February on fraud charges. The complaint details that about $253 million was deposited into a specific JPMorgan account, with roughly $123 million subsequently transferred to Goliath's Coinbase wallets. Attorneys filing the suit suggest more complaints against complicit parties are forthcoming to maximize victim recovery.

(Source：Cointelegraph)