A Florida businessman has pleaded guilty to running a cryptocurrency scam that bilked investors of hundreds of millions of dollars.
The CEO of Orlando-based Goliath Ventures, formerly known as Gen-Z Venture Firm, has pleaded guilty to multiple federal charges including wire fraud, wire fraud, and money laundering. he says US Department of Justice.
The scheme functioned like a traditional Ponzi scheme, using new venture capital to pay off previous participants while throwing in cash for investment.
Florida prosecutors detailed how the operation affected victims of false promises of cryptocurrency benefits.
“Delgado provided fraudulent information to solicit funds from investors and then squandered his ill-gotten gains on his lavish lifestyle…
As evidenced by the expropriation of its peers, the United States has received at least $400 million in investor donations to Goliath…
With the money of the people involved, Delgado bought at least six houses, each worth between $1.15 million and $8.5 million, and luxury cars, watches, and expensive jewelry, including Lamborghinis, Rolls Royces, Rolex watches, several Louis Vuitton bags, purses, luggage, and expensive jewelry.
The FBI has released questions to potential victims and information about the rights of those involved in upcoming cases Here.
Follow us X, Facebook and Telegram
Don’t Miss Out – Sign up to receive email notifications straight to your inbox
Swimming The Daily Hodl Mix
 
Disclaimer: The views expressed in Daily Hodl are not financial advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any assets including cryptocurrencies, nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image Created: Midjourney
