JPMorgan Chase Accused of Enabling $328 Million Crypto Ponzi Scheme

A lawsuit has been filed against JPMorgan Chase Bank, accusing it of enabling a massive crypto Ponzi scheme operated by Goliath Ventures.

The complaint alleges that the scheme, which raised approximately $328 million from over 2,000 investors, relied on bank accounts to collect and distribute funds. According to the lawsuit, only a small portion of investor funds were used for legitimate investments, while millions were diverted to the scheme's operator or related entities.

JPMorgan Chase is accused of ignoring red flags and allowing the scheme to continue despite access to anti-money laundering tools and transaction monitoring systems.