Investors have initiated a class-action lawsuit against JPMorgan in the U.S. District Court for the Northern District of California, alleging the bank's involvement in a $328 million cryptocurrency Ponzi scheme. The lawsuit claims JPMorgan failed to prevent suspicious transactions and allowed Goliath Ventures to use its banking services to collect funds from over 2,000 investors between January 2023 and mid-2025. The complaint details that approximately $253 million was deposited into a JPMorgan account, with $123 million transferred to Goliath's Coinbase wallet. This legal action follows the arrest of Goliath CEO Christopher Delgado, who is accused of orchestrating the scam and faces up to 30 years in prison. Goliath, previously known as Gen-Z Venture Firm, allegedly operated the scheme from January 2023 to January 2026.
Investors File Lawsuit Against JPMorgan Over $328M Crypto Ponzi Scheme
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