Law.com reports on two new proposed class actions filed by investors in the collapsed Goliath Ventures cryptocurrency fund, this time targeting Bank of America and Broad Financial in federal courts in New Jersey and Nevada. Murphy’s Law: The Crypto Law Firm is part of the legal team representing the proposed classes alongside Sonn Law Group, Shaw Lewenz, and Schwartzbaum.
Reporter Michael A. Mora details how the lawsuits deepen the fallout from Goliath Ventures’ collapse and CEO Christopher Delgado’s arrest on federal wire fraud and money laundering charges. The complaints allege that without access to the U.S. banking system, Goliath could not have accepted investor funds at scale, transferred those funds to crypto platforms, or perpetuated the illusion of legitimate returns.
According to the filing, Goliath initially banked exclusively with JPMorgan Chase between January 2023 and June 2025, moving $253 million into its Chase account, with more than $123 million transferred to Goliath’s wallets maintained by Coinbase. After JPMorgan Chase debanked Goliath, the fund moved to Bank of America. From May 2025 through September 2025 alone, approximately $75 million was deposited into a Bank of America business account, with tens of millions transferred out, including approximately $42 million to crypto exchange accounts and approximately $11 million to investors as purported returns funded by other investors’ deposits. The complaint alleges that Bank of America created a false appearance of institutional legitimacy that investors reasonably relied on.
Broad Financial is accused of processing and charging fees to dozens of Goliath-referred investors through self-directed retirement accounts that the filing describes as a pipeline that made it easy and fast for retirement funds to be converted into fuel for the Ponzi scheme.
The named plaintiffs include a school teacher of nearly 25 years who invested her entire retirement account in the fund and a Nevada man. Jordan Shaw of Shaw Lewenz told Law.com that the legal team’s goal is to be purposeful, noting that every lawsuit creates hope and they want it to be real hope, not false hope.
The article also reports that the court-appointed receiver filed for Chapter 11 bankruptcy protection on Monday in the U.S. Bankruptcy Court for the Southern District of Florida, reporting $1 million to $10 million in assets and $100 million to $500 million in liabilities. Goliath raised at least $328 million from roughly 2,000 investors before its collapse.
If you were an investor in Goliath Ventures or believe you have been the victim of a cryptocurrency fraud or Ponzi scheme, contact Murphy’s Law for a free consultation to discuss your legal options.