The Orlando Sentinel reports on three class action lawsuits filed in connection with the massive Goliath Ventures cryptocurrency Ponzi scheme that federal prosecutors say was run from Orlando by founder and CEO Christopher Delgado. Murphy’s Law: The Crypto Law Firm is part of the legal team that filed the lawsuits against JPMorgan Chase and Alston & Bird alongside Sonn Law Group, Shaw Lewenz, and Schwartzbaum.
The Sentinel details how the lawsuits came on the heels of Delgado’s February 24 arrest on federal wire fraud and money laundering charges. Federal authorities say Goliath Ventures defrauded investors of at least $328 million. Delgado allegedly lived the high life on other people’s money, misappropriating investor funds to buy million-dollar homes, luxury cars, and expensive watches.
The lawsuit against JPMorgan Chase, filed in federal court in California on behalf of Goliath investor and airline pilot Robby Alan Steele, claims the bank aided and abetted the alleged Ponzi scheme by allowing Goliath to use its banking system to collect and move hundreds of millions of dollars while ignoring large volumes of suspicious transactions. Approximately $253 million was deposited into a Goliath account at JPMorgan Chase between January 2023 and June 2025. Adam Schwartzbaum, one of Steele’s attorneys, told the Sentinel that Chase could see new investors were getting paid with old investors’ money, calling it the biggest red flag of a Ponzi scheme. Steele initially invested $310,000 and then put another $340,000 from his retirement savings into the firm.
A third lawsuit filed by the same legal team alleges that Atlanta-based law firm Alston & Bird enabled Goliath’s scheme by drafting the joint venture agreements investors signed. That lawsuit was filed by two investors, including John Euliano, a major donor to the University of Central Florida and the namesake of the school’s baseball stadium, who says he suffered at least $1.2 million in damages.
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.