Apopka CEO Christopher Delgado Arrested in Massive $328 Million Crypto Ponzi Scheme
By Staff Reporter | February 25, 2026
ORLANDO, Fla. – Christopher Alexander Delgado, the 34-year-old president and CEO of Goliath Ventures, was arrested this week on federal charges of wire fraud and money laundering in connection with an alleged $328 million cryptocurrency Ponzi scheme that targeted investors across Central Florida and beyond.
According to a criminal complaint filed by the U.S. Attorney’s Office for the Middle District of Florida, Delgado operated the scheme from January 2023 through January 2026. Previously known as Gen-Z Venture Firm, Goliath Ventures lured investors with promises of lucrative monthly returns from cryptocurrency “liquidity pools.” In reality, prosecutors say, the funds were used to pay returns to earlier investors, fund extravagant lifestyles, and purchase luxury properties.
How the Scheme Unfolded
Delgado allegedly enticed victims through personal referrals, slick professional marketing materials, high-end luxury events, and charitable sponsorships. Some investors received initial monthly payments of purported returns, which built false credibility for the firm. These tactics masked the Ponzi nature of the operation, where new investor money paid off earlier participants rather than generating genuine profits from crypto investments.
The U.S. Department of Justice detailed in a news release that Delgado misused at least $328 million. Beyond sustaining the illusion of returns, the funds financed lavish business gatherings, holiday parties, and luxury travel. Most egregiously, Delgado splurged on four high-value residential properties:
- August 2024: $1.65 million home in Sanford
- December 2024: $1.15 million property in Kissimmee
- July 2025: $3.2 million residence in Winter Park
- September 2025: $8.5 million estate in Windermere
One identified victim reportedly lost $720,000, while another managed to recover their investment only after directly confronting Delgado. The total scope of victims remains under investigation, with law enforcement notifying confirmed individuals of their rights under the Crime Victims’ Rights Act.
Federal Charges and Investigation
Delgado, a resident of Apopka, faces serious penalties if convicted. Wire fraud carries a maximum sentence of 20 years in prison, while money laundering charges could add another 20 years. The case is being prosecuted by U.S. Attorney Gregory W. Kehoe’s office, with involvement from the IRS Criminal Investigation unit.
“This was a brazen scheme that preyed on investors’ trust in the booming cryptocurrency market,” a DOJ spokesperson stated. The arrest underscores ongoing federal crackdowns on crypto-related fraud, especially Ponzi operations masquerading as innovative investment opportunities.
Broader Context of Crypto Scams
Delgado’s case echoes recent high-profile convictions in the crypto space. Just weeks ago, on February 12, 2026, Praetorian Group International CEO Ramil Ventura Palafox was sentenced to 20 years for a $200 million Bitcoin Ponzi scheme that defrauded over 90,000 investors worldwide. Palafox promised impossible daily returns of 0.5% to 3%, using new funds to pay old investors while splurging on luxury goods from brands like Gucci and Rolex.
These schemes thrive on the hype surrounding cryptocurrencies, exploiting investors’ desires for high yields in volatile markets. Experts warn that liquidity pools – legitimate DeFi mechanisms where tokens provide trading liquidity for fees – are often misrepresented in frauds to sound overly profitable.
What Victims Should Do
Potential victims who haven’t been contacted are urged to email Goliathvictims@ci.irs.gov or visit the U.S. Justice Department’s victim resources page. Authorities emphasize that early reporting aids in asset recovery and restitution efforts.
The properties purchased with investor funds are likely subjects for forfeiture proceedings, offering some hope for clawbacks similar to those in prior cases. In the Palafox scheme, investors lost over $62 million, with courts ordering significant restitution.
Impact on Central Florida’s Business Community
Goliath Ventures positioned itself as a player in Florida’s growing tech and crypto scene, hosting events that mingled business networking with philanthropy. The fallout could chill investor confidence in local startups, particularly those in emerging fintech sectors. Apopka and Orlando business leaders have distanced themselves, calling the scheme an isolated abuse.
Federal investigators continue to probe Goliath’s operations, with possible additional charges or co-conspirators on the horizon. Delgado is detained pending his initial court appearance, where bail and pretrial conditions will be addressed.
Lessons for Investors
This arrest serves as a stark reminder amid crypto’s volatility: Promises of guaranteed monthly returns, especially in unregulated assets, are red flags. The SEC and CFTC advise due diligence, including verifying firm registrations and scrutinizing unrealistic yields. Florida, with its crypto-friendly regulations, has seen a surge in such cases, prompting calls for tighter oversight.
As the case progresses, updates will follow on Delgado’s legal battles and victim restitution. Central Florida watches closely, hoping justice brings some measure of recovery to those defrauded.
This story is developing. Check back for updates.