JPMorgan sued over alleged $328M crypto Ponzi scheme tied to Goliath Ventures

Investors in what they describe as a $328 million crypto Ponzi scheme orchestrated by Goliath Ventures have filed a proposed class action lawsuit against JPMorgan Chase in federal court. The suit alleges that Chase provided the "essential banking infrastructure" for the fraud by processing deposits and facilitating payments, earning substantial fees while ignoring numerous "red flags" that made the scheme "obvious."

Goliath Ventures operator Christopher Alexander Delgado was recently arrested on wire fraud and money laundering charges. The lawsuit claims that between January 2023 and June 2025, approximately $253 million was deposited into a linked Chase account, with funds allegedly used to pay purported returns to earlier investors from later investors' money, characteristic of a Ponzi scheme. The suit notes that JPMorgan CEO Jamie Dimon's public criticism of crypto contrasts with the bank's alleged conduct in knowingly servicing the fraudulent accounts. The complaint argues that a scheme of this magnitude could not have operated without the bank's involvement and that the flow of funds alone should have alerted JPMorgan to the fraud.

(Source：CoinDesk)