JPMorgan sued by investors for alleged Ponzi scheme

Investors filed a class action lawsuit in the Federal District Court for the Northern District of California on Tuesday, accusing JPMorgan of failing to prevent suspicious transactions in the $328 million cryptocurrency Ponzi scheme operated by Goliath Ventures and allowing the company to use JPMorgan's banking infrastructure to collect investor funds. The lawsuit alleges that JPMorgan provided exclusive banking services to Goliath from January 2023 to May or June 2025, with approximately $253 million deposited into JPMorgan's 0305 account and approximately $123 million transferred to Goliath's Coinbase wallet. Previously, Goliath CEO Christopher Delgado was arrested on February 24th and faces up to 30 years of federal imprisonment. Another criminal complaint shows that Goliath still holds a commercial account at Bank of America, with Delgado as a co signatory of the account.