ORLANDO, Fla. — A major development has emerged in a massive federal investigation into an alleged Ponzi scheme operating in Central Florida.
Federal prosecutors have filed a civil forfeiture case seeking to seize luxury homes, high-end vehicles and commercial property tied to Christopher Delgado, the former CEO of Goliath Ventures and the only person currently facing a criminal complaint in the case.
Investigators allege the assets were purchased with proceeds from a cryptocurrency investment scheme that brought in hundreds of millions of dollars from investors nationwide.
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Among the properties targeted is an $8.5 million mansion in the exclusive Isleworth community in Windermere, where Delgado recently spoke exclusively with Channel 9 Anchor Daralene Jones about the federal investigation.
“Part of me wishes I kept renting and, you know, the rent would have been paid for,” Delgado told Jones . “It’s a beautiful home and I would’ve had $8.5 million.”
Federal authorities are also seeking to seize homes in Winter Park, Winter Garden, Kissimmee, Sanford and Apopka, along with luxury vehicles, including a Lamborghini Delgado showed Channel 9 inside the garage of his Isleworth mansion.
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“This car was paid for by Goliath,” Delgado acknowledged during the interview.
The government is additionally targeting a downtown Orlando office property Delgado purchased for about $3.2 million from a prominent Orlando attorney. Delgado told Channel 9 the building was being renovated to serve as Goliath Ventures’ headquarters.
Federal investigators allege Delgado opened at least 30 bank accounts and records show five accounts received deposited of approximately $400 million at JPMorgan Chase, Bank of America and Luminate Bank.
According to court records, investors were required to contribute a minimum of $100,000 into what was described as a cryptocurrency fund. Investigators say investors were promised monthly returns ranging from 3% to 8%.
Federal authorities allege early investors were paid with money from newer investors — a hallmark of a Ponzi scheme.
Investigators further allege Delgado and unnamed co-conspirators used investor money to fund an extravagant lifestyle before the scheme collapsed late last year.
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Former federal prosecutor Andy Searle said the newly filed civil case marks the beginning of a lengthy forfeiture process.
“This does not mean that Christopher Delgado has to vacate that Isleworth mansion or give up any of these properties or cars right away,” Searle said. “This would be the first step in that process of the government actually seizing and forfeiting this property and then ultimately liquidating the property.”
Searle said the government’s goal will likely be recovering as much money as possible for alleged victims.
“They are motivated to try to make the victims whole,” Searle said. “That is supposed to be the mission of the Department of Justice.”
The forfeiture process could become more complicated because some of the homes are titled in Delgado’s wife’s name, including a luxury home in the Windsong neighborhood of Winter Park.
“They can enter the civil lawsuit and make a claim on the property,” Searle explained. “There can be negotiations. The government can actually reach some kind of a settlement where, when the property is ultimately sold, they can give some interest in the property to whoever has a stake.”
During his interview with Channel 9, Delgado described being questioned by federal investigators.
“What kind of questions did they ask you?” Jones asked.
“I mean, very direct questions,” Delgado responded. “Did you buy a Rolex with investor money? Yes.”
Delgado has not been indicted. He was arrested on a criminal complaint, and federal prosecutors now have until June 26 to secure an indictment as the investigation continues.
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