Goliath Ventures head accepts plea in crypto fraud case

ORLANDO, Fla. — A federal judge has accepted the guilty plea and plea agreement for Christopher Delgado, the man accused of running a massive cryptocurrency investment fraud scheme through Goliath Ventures.

Last month, Channel 9 was in federal court in Orlando as Delgado pleaded guilty to conspiracy to commit fraud, wire fraud and money laundering charges.

Federal court records show the charges are tied to what investigators describe as a Ponzi scheme that collected hundreds of millions of dollars from investors who were promised returns through cryptocurrency-related investments.

WATCH: Goliath Ventures Investigation

Investigators believe as many as 1,500 people may have been defrauded after investing money they believed would be placed into cryptocurrency opportunities. Instead, authorities say investor money was used to pay earlier investors and fund Delgado’s lavish lifestyle.

Earlier this year, Delgado gave Channel 9 anchor and investigative reporter Daralene Jones an inside look at how he spent investor money, showing homes, luxury vehicles, expensive items and vacations.

In that interview, he acknowledged investor funds were used for personal spending while disputing that he intended to defraud investors, according to previous WFTV reporting.

Federal authorities have already moved to seize multiple homes, luxury vehicles and other assets they allege were purchased with investor funds. Delgado is scheduled to be sentenced later this year.