CFTC CHARGES FLORIDA MEN FOR $397 MILLION IN ENCRYPTED PONZI SCHEME

CFTC accused the Florida man Christopher Delgado and his company Goliath Ventures of a $397 million encrypted Ponzi scheme, with up to 1,600 victims. Delgado was accused of falsely placing client funds in the DeFi mobility pool and actually spent $48 million on yachts, $4.9 million on global travel and $2.9 million on luxury clothing and jewellery. Delgado had pleaded guilty in June and faced up to 20 years ' imprisonment for each offence. SEC also filed parallel charges against him on Tuesday。