Florida Man Arrested for Operating $328 Million Crypto Ponzi Scheme

A 34-year-old man from Apopka, Florida has been arrested and charged with running one of the largest cryptocurrency Ponzi schemes in history. According to federal prosecutors, Christopher Alexander Delgado raised at least $328 million from investors by promising guaranteed returns on their investments.

The scheme, which operated through Delgado's company Goliath Ventures, promised investors monthly returns ranging from 3% to 8%. However, investigators found that only a small fraction of the funds were actually invested in cryptocurrency liquidity pools.

Instead, the majority of the funds were used to pay returns to earlier investors and to meet withdrawal requests. To build credibility, Delgado relied on personal referrals, polished marketing materials, and luxury events.