The Commodity Futures Trading Commission (CFTC) has filed a lawsuit in federal court in Florida against Christopher Delgado and his company, Goliath Ventures Inc. According to the regulator, Delgado allegedly deceived over 1,600 clients, raising $397 million through his firm by promising investors high returns through investments in cryptocurrency liquidity pools on decentralized exchanges.
The CFTC claims that Delgado misappropriated the funds from users for personal expenses, including luxury clothing and global travel. He now faces a potential sentence of up to 20 years in prison.