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BREAKING: JPMorgan Sued Over $328M Crypto Ponzi Scheme
Investors have filed a class action lawsuit against JPMorgan Chase, accusing the bank of enabling a $328 million crypto Ponzi scheme run by Goliath Ventures.
Key Facts:
→ $253M deposited through JPMorgan accounts (Jan 2023 - June 2025)
→ $123M transferred to Coinbase wallets
→ 2,000+ investors defrauded
→ CEO Christopher Delgado arrested on Feb 24, faces up to 30 years in prison
→ Goliath promised 3-8% monthly returns through crypto liquidity pools
→ Funds were used for luxury homes, cars and paying earlier investors
Why JPMorgan is being targeted:
The lawsuit alleges JPMorgan was Goliath's sole bank and ignored major red flags. Investors argue the bank failed basic KYC checks and never verified if Goliath was registered with the CFTC.
The irony? JPMorgan CEO Jamie Dimon has publicly bashed crypto for years while his bank allegedly processed hundreds of millions in crypto related fraud.
JPMorgan declined to comment. Coinbase says it is not a party to the lawsuit.