An Orange County man is accused of running what federal investigators call a massive, multi-million-dollar Ponzi scheme out of a downtown Orlando office tower.Federal agents arrested Christopher Delgado, alleging he orchestrated a $328 million investment fraud through his company, Goliath Ventures, also known as Gen-Z Ventures.Investors might have thought they were getting returns on their money, but investigators say it was a classic Ponzi scheme. Federal agents arrested Delgado for wire fraud and money laundering. They said he ran a company called Goliath Ventures, also known as Gen-Z Ventures. The website for Goliath says it works with high-net-worth investors and gives them access to cryptocurrency and Bitcoin mining opportunities. The feds said Delgado would get people to invest large sums of money, promising them monthly returns from what they called “cryptocurrency liquidity pools.” But in reality, investigators said Delgado was actually paying past investors with money from new investors. In all, they believe he got at least $328 million. He allegedly used the money to buy multi-million-dollar properties in Winter Park, Sanford and Windermere.Delgado was arrested on Tuesday and appeared before a federal judge. He’s now out of custody after posting a $1 million bond.
An Orange County man is accused of running what federal investigators call a massive, multi-million-dollar Ponzi scheme out of a downtown Orlando office tower.
Federal agents arrested Christopher Delgado, alleging he orchestrated a $328 million investment fraud through his company, Goliath Ventures, also known as Gen-Z Ventures.
Investors might have thought they were getting returns on their money, but investigators say it was a classic Ponzi scheme.
Federal agents arrested Delgado for wire fraud and money laundering. They said he ran a company called Goliath Ventures, also known as Gen-Z Ventures.
The website for Goliath says it works with high-net-worth investors and gives them access to cryptocurrency and Bitcoin mining opportunities.
The feds said Delgado would get people to invest large sums of money, promising them monthly returns from what they called “cryptocurrency liquidity pools.”
But in reality, investigators said Delgado was actually paying past investors with money from new investors.
In all, they believe he got at least $328 million. He allegedly used the money to buy multi-million-dollar properties in Winter Park, Sanford and Windermere.
Delgado was arrested on Tuesday and appeared before a federal judge. He’s now out of custody after posting a $1 million bond.