In a major development, Christopher Alexander Delgado, the former CEO of Goliath Ventures, has pleaded guilty to his role in a crypto investment scheme that prosecutors say pulled in at least $400 million from investors while causing losses of at least $250 million.The US Department of Justice (DOJ) announced the plea on Tuesday, months after federal authorities arrested Delgado in February over allegations tied to a crypto Ponzi scheme built around purported digital asset liquidity pool investments. Goliath Ventures, which previously operated under the name Gen-Z Venture Firm, promised investors monthly returns generated through those liquidity pools between January 2023 and January 2026. In reality, prosecutors said incoming funds were used to pay earlier investors, process withdrawals, bankroll business events and fuel Delgado’s personal spending.That spending was also extensive. With investor money, Delgado bought at least six residential properties individually valued between $1.15 million and $8.5 million, along with Lamborghinis, Rolls Royces, Rolex watches, several dozen Louis Vuitton bags, wallets and luggage, and custom Tiffany jewelry, DOJ stated.Delgado pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering. He faces up to 20 years in prison for each fraud count and up to 10 years for the money laundering charge. As part of the plea agreement, Delgado has also agreed to forfeit a sweeping collection of assets acquired with investor funds, including eight properties, 11 vehicles, 30 watches, more than 50 luxury bags and wallets, at least 29 pieces of jewelry, and various bank accounts and crypto wallets.The agreement also requires Delgado to cooperate with federal investigators going forward. Per the terms, he agreed to “cooperate fully with the United States in the investigation and prosecution of other persons, and to testify, subject to a prosecution for perjury or making a false statement, fully and truthfully, before any federal court proceeding or federal grand jury in connection with the charges in this case and other matters.”His sentencing hearing is now scheduled for October 8.AscendEX Hackers First Attempt at Laundering the Stolen MoneyAEX Exchange Review: Is it Legit?Colon Cancer Treatment Cost in IndiaBitwise Expands into Europe with ETC Group Acquisition.lwrp.link-whisper-related-posts{ margin-top: 40px;margin-bottom: 30px; } .lwrp .lwrp-title{ }.lwrp .lwrp-description{ } .lwrp .lwrp-list-container{ } .lwrp .lwrp-list-multi-container{ display: flex; } .lwrp .lwrp-list-double{ width: 48%; } .lwrp .lwrp-list-triple{ width: 32%; } .lwrp .lwrp-list-row-container{ display: flex; justify-content: space-between; } .lwrp .lwrp-list-row-container .lwrp-list-item{ width: calc(25% - 20px); } .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){ } .lwrp .lwrp-list-item img{ max-width: 100%; height: auto; object-fit: cover; aspect-ratio: 1 / 1; } .lwrp .lwrp-list-item.lwrp-empty-list-item{ background: initial !important; } .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text, .lwrp .lwrp-list-item .lwrp-list-no-posts-message{ }@media screen and (max-width: 480px) { .lwrp.link-whisper-related-posts{ } .lwrp .lwrp-title{ }.lwrp .lwrp-description{ } .lwrp .lwrp-list-multi-container{ flex-direction: column; } .lwrp .lwrp-list-multi-container ul.lwrp-list{ margin-top: 0px; margin-bottom: 0px; padding-top: 0px; padding-bottom: 0px; } .lwrp .lwrp-list-double, .lwrp .lwrp-list-triple{ width: 100%; } .lwrp .lwrp-list-row-container{ justify-content: initial; flex-direction: column; } .lwrp .lwrp-list-row-container .lwrp-list-item{ width: 100%; } .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){ } .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text, .lwrp .lwrp-list-item .lwrp-list-no-posts-message{ }; } Related Posts Kazakhstan Considers a Bill to Increase Fee Rate for Crypto Mining Best 10 Bitcoin Casinos | The SAFEST OPTIONS! | Check out NOW!10 Best Solana Arbitrage BotsMakerDAO Co-Founder Advocates De-pegging DAI Amid OFAC Sanctions Blockchain.com secures preliminary approval from MAS to operate in SingaporeAustralian Regulator Developing Outcome-Based Crypto PoliciesYouHodler vs KuCoin vs CoinRabbit [Read Before You Invest]CryptoPunks Ethereum NFT Sells for Nearly $24M, Doubling Previous Record