JPMorgan Sued by Investors for Allegedly Participating in $328 Million Crypto Ponzi Scheme

ZkProver · 2026-03-12T13:18:36+00:00

Investors sued JPMorgan in California court, alleging the bank failed to prevent Goliath Ventures' cryptocurrency Ponzi scheme and accusing it of providing financial infrastructure for the operation. Goliath raised $328 million from over 2,000 investors, and its CEO has been arrested.

ZkProver

2026-03-12 13:18:36

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ChainCatcher reports that investors filed a class-action lawsuit on Tuesday in the Northern District of California federal court, accusing JPMorgan of failing to stop suspicious transactions in a $328 million crypto Ponzi scheme operated by the now-defunct Goliath Ventures, and allowing the company to use its banking infrastructure to collect investor funds.

The complaint states that JPMorgan provided exclusive banking services to Goliath from January 2023 to May or June 2025, during which Goliath raised at least $328 million from over 2,000 investors. About $253 million was deposited into JPMorgan’s account 0305, and approximately $123 million was transferred to Goliath’s wallet on Coinbase.

Previously, the U.S. District Attorney’s Office for the Middle District of Florida announced the arrest of Goliath CEO Christopher Delgado on February 24, who faces up to 30 years in federal prison. Prosecutors said Goliath (formerly known as Gen-Z Venture Firm) operated the scheme from January 2023 to January 2026. Another criminal complaint shows that Goliath also held a business account at Bank of America, with Delgado as a co-signatory.

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