Records sought on charities tied to accused Ponzi scheme

Christopher Delgado, the Orlando businessman accused of running a massive Ponzi scheme, has generated headlines for allegedly using his investors’ money to buy a mansion, luxury cars and fancy watches. But another avenue of his spending has now come under scrutiny in court — his many donations to Central Florida charities.

With Delgado’s Goliath Ventures cryptocurrency firm now in bankruptcy court — and a long list of creditors seeking recompense — the recipients of his largesse face what for many could be a difficult request: To give the money back.

“Often in Ponzi schemes, perpetrators donate to innocent charities to promote the façade of success and integrity,” said Miami attorney Michael Budwick, appointed by a judge to take control of Goliath after Delgado’s arrest, recover assets and pay back the alleged victims of his fraud.

“Since the donated funds ultimately come from fraud victims, the law provides for their return for the benefit of all victims,” he added. “We will work compassionately with the charities to resolve these issues.”

One group is already planning to return funds to Goliath, court records show.

Prosecutors say Goliath, based in Central Florida, defrauded investors of at least $328 million. Delgado, 34, was arrested in February and faces federal charges of wire fraud and money laundering. He has not yet entered a plea.

Goliath filed for Chapter 11 bankruptcy following Delgado’s arrest. More than 280 claims have been filed by creditors as of Wednesday, seeking a combined $92.5 million from the company.

Records from a dozen charitable and community organizations have been subpoenaed in that bankruptcy case, including those from the Foundation for Orange County Public Schools, the Orlando Magic Youth Foundation, and the AdventHealth Foundation.

Delgado made donations both big and small, according to records and interviews. He gave $350 to sponsor a team in the Apopka Little League, more than $50,000 to help send the band and cheerleading squad at Apopka High School to London’s 2026 New Year’s Day parade and $250,000 to a drug-abuse prevention initiative. That last donation seemingly earned him an invitation to the White House.

Some of the charities he helped are located in Apopka, where Delgado owns one of several upscale homes. But he also gave to a Sanford-based cancer charity and to some of Central Florida’s big-name nonprofits.

Fort Lauderdale attorney Jordan Shaw represents several Goliath investors who have sued the company, including John Euliano, a major donor to the University of Central Florida and the namesake of UCF’s baseball stadium. He said it is common for those who orchestrate fraud to be publicly charitable to lend legitimacy to their schemes.

“They have bankers, they have lawyers and they are affiliated with doctors and politicians and charities,” he said. “You’re investing money with someone who by all metrics seems like someone you should be able to trust.”

Delgado referred questions to his attorney when reached by text Wednesday. His attorney did not respond to a request for comment.

Delgado told the Orlando Sentinel in August, months before his arrest, that he was a prolific philanthropist because his mother was committed to helping others. Though she had limited funds, she donated to churches, schools and Little League teams during his childhood.

“You’re talking about someone who, you know, has to put $20 in the gas tank, can’t necessarily fill up the car, but will write, you know, $200 to an organization,” he said. “And so I grew up with that, seeing that firsthand, and so I wanted to make that a cornerstone in my life.”

Goliath donated $25,000 to Dream Lake Elementary School in Apopka in February 2025 to support a school club, according to records provided by OCPS. Goliath also donated $51,000 to the Apopka High teams’ travel to the United Kingdom.

A spokesperson for the Orlando Magic confirmed Delgado made donations to the Orlando Magic Youth Foundation, but declined to say how much he gave. The spokesperson said the funds were used to give grants to other organizations in Central Florida.

AdventHealth did not respond to repeated requests for comment about why the AdventHealth Foundation had been subpoenaed or if it had received any donations from Delgado or Goliath.

Other groups subpoenaed in Goliath’s bankruptcy case include the Central Florida Soccer Club in Apopka and Orangewood Christian School in Maitland.

The Orlando Economic Partnership, a prominent local economic and community development organization, recently reached a settlement with Goliath to give $190,000 to the company, which equates to 95% of the $200,000 membership payment Goliath had made to the partnership in August, court records show.

The settlement, filed in court April 20, has not yet been approved by a judge. The partnership declined to comment when reached April 22. It was among the groups whose records were subpoenaed.

Prosecutors say Delgado lived the high life on other people’s money, misappropriating investors’ funds to buy several high-end homes, including a $8.5 million, seven-bedroom, golf course mansion in tony Isleworth. Investors’ money was also used to purchase a $3.2 million home in Winter Park, a Ferrari, a Lamborghini and five Swiss-crafted Audemars Piguet timepieces, among other assets.

Delgado’s charitable giving is partly what hooked a Goliath investor in Canada, who spoke to the Sentinel in February following Delgado’s arrest on the condition that she was not identified by name. The woman, who invested and lost $141,000 with Goliath and now plans on postponing her retirement, said she was impressed by seeing TV news coverage of Delgado’s philanthropy.

“When I was first investing, looking at his interviews…showing him with all these children at these charity events. I’m thinking, okay, this guy’s really public. I was fooled by that,” she said.

Another Goliath investor told investigators he met Delgado through an unnamed charitable organization for which Goliath was a major sponsor. Delgado’s public association with charities led him to believe Goliath was a legitimate business — until he lost around $720,000, according to the criminal complaint filed against Delgado in federal court.

The Sentinel’s August interview of Delgado was about a $2 million pledge he made to the Victoria’s Voice Foundation, the nonprofit founded by the late Westgate Resorts founder David Siegel and his wife Jacqueline Siegel, for a drug abuse prevention and awareness initiative. The foundation’s records have also been subpoenaed in Goliath’s bankruptcy case.

Leah Shepherd, executive director of Victoria’s Voice, said after Delgado’s arrest that the foundation only received $250,000 from him and never spent that money. The group’s board decided to set the funds aside while the investigation into Delgado is ongoing.

Delgado told the Sentinel he attended President Donald Trump’s signing of the HALT Fentanyl Act at the White House with Jacqueline Siegel in July. He shared photos of his time in Washington, D.C., including a photo of him and House Speaker Mike Johnson and another that appears to show Trump in the background.