Lawsuit claims JPMorgan Chase accounts served as “exclusive vehicle” in $328 million crypto ponzi

A proposed class action lawsuit, filed on behalf of over 2,000 investors, claims that JPMorgan Chase provided the essential banking infrastructure for Goliath Ventures' $328 million cryptocurrency Ponzi scheme between January 2023 and May/June 2025. The plaintiff, Robby Alan Steele, who lost $650,000, alleges the bank acted as the "sole banking institution" for Goliath, which promised crypto trading profits but was actually using new investor funds to pay earlier ones, leading to the arrest of CEO Christopher Delgado. The complaint details that approximately $253 million was deposited into Goliath's Chase account, with about $123 million transferred to Coinbase wallets and $50 million sent out as purported returns funded by later investors. The lawsuit asserts Chase had "actual knowledge" of the scheme, ignoring numerous red flags like rapid fund movements and circular payment patterns, despite using advanced monitoring software. The claims against Chase include aiding and abetting fraud and negligence, seeking compensatory damages and restitution.

(Source：The Block)