Odaily Planet Daily report: On Tuesday, investors filed a class-action lawsuit in the U.S. District Court for the Northern District of California, accusing JPMorgan of failing to prevent suspicious transactions in the $328 million cryptocurrency Ponzi scheme operated by the now-defunct Goliath Ventures, and allowing the company to use its banking infrastructure to collect investor funds.
The complaint alleges that JPMorgan provided exclusive banking services to Goliath from January 2023 through May or June 2025, during which Goliath raised at least $328 million from over 2,000 investors. Approximately $253 million was deposited into JPMorgan’s account 0305, and about $123 million was transferred to Goliath’s wallet held at Coinbase.
Previously, on February 24, the U.S. Attorney’s Office for the Middle District of Florida announced the arrest of Goliath CEO Christopher Delgado, who faces up to 30 years in federal prison. Prosecutors allege that Goliath (formerly known as Gen-Z Venture Firm) operated the scam from January 2023 to January 2026. Another criminal complaint revealed that Goliath also maintained a business account at Bank of America, with Delgado listed as a joint signatory.