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The Times of India
The Times of India
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$250M crypto fraud allegedly funded six homes, Lamborghinis and dozens of Louis Vuitton bags

Louis Vuitton Crypto Goliath Luxury DOJ Prison Rolex the US Department of Justice United States

A $250 million crypto fraud allegedly financed a lavish lifestyle of luxury homes, Lamborghinis, Rolex watches and dozens of Louis Vuitton bags, according to the US Department of Justice. Christopher Alexander Delgado, former CEO of Goliath Ventures, pleaded guilty after admitting that his scheme caused at least $250 million in losses to investors. Prosecutors said investors were promised monthly returns from cryptocurrency “liquidity pools”, but their money was instead used to pay earlier investors, fund lavish travel and buy high-end assets. At least six residential properties were purchased, alongside luxury vehicles, watches and jewellery, as the alleged Ponzi scheme unravelled.

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