The CEO of an Orlando cryptocurrency firm and former Orange County commission candidate is accused of operating a Ponzi scheme that defrauded investors of at least $328 million, federal prosecutors announced Tuesday.
Christopher Alexander Delgado, 34, of Apopka, was arrested Tuesday on charges of wire fraud and money laundering, according to a news release from the U.S. Department of Justice. He served as the founder, president and CEO of the blockchain firm Goliath Ventures, which is headquartered in downtown Orlando.
Delgado allegedly operated the scheme from January 2023 to January 2026. It involved soliciting victims to invest substantial sums of money under false and fraudulent promises of monthly returns generated through cryptocurrency “liquidity pools,” according to the release.
Victims were induced to give money to Goliath through personal referrals, professional marketing materials, luxury events, charitable sponsorships and some monthly payments of purported returns, all of which were designed to establish Goliath’s “bona fides” with investors, the release said.
But federal prosecutors said while Goliath fraudulently obtained at least $328 million from investors, only about $1 million was ever placed into a liquidity pool.
The funds were instead primarily used to pay purported returns to earlier investors, to return principal to investors who requested it and for Goliath’s “extravagant” business gatherings, holiday parties, and luxury travel accommodations, the release said.
Delgado would also use the funds for personal expenditures, including the purchase of residential properties in Windemere, Winter Park, Kissimmee and Sanford that were each worth between $1.15 million and $8.5 million, court documents show.
Prosecutors say Delgado and his co-conspirators took various steps to hide the scheme, such as providing investors with fabricated statements about their investments.
Beginning in late 2025, when investors attempted to withdraw their principal investments or purported returns, Goliath would delay payments, provide shifting explanations and restricted or ended investor access to information about their investments, records show.
One investor who lives in Seminole County lost $720,000 in the scheme after an acquaintance told him he had invested $1 million with Goliath and was making consistent returns. He ultimately made a “joint venture agreement” signed by Delgado, records show.
Delgado made his first court appearance Tuesday and a federal judge granted a request from Delgado releasing him from custody, according to court records.
Delgado made a failed bid for a seat on the Orange County Board of Commissioners in 2022, coming in a distant third in a race won by Commissioner Christine Moore.
“My promise to you is that I will always vote in favor of the best interest to my community and vote no on anything that would negatively effect you!” Delgado said on his campaign website.