ORANGE COUNTY, Fla. — An alleged Ponzi scheme based in Central Florida may have as many as 1,500 victims who collectively lost up to $500 million, according to bankruptcy court records tied to the collapse of Goliath Ventures.
Federal investigators and a court-appointed receiver are now trying to trace where investor money went after the company filed for voluntary bankruptcy.
Records obtained by Channel 9 show a wave of subpoenas has been issued to former Goliath Ventures executives, charities, organizations, and political groups that received money connected to the company.
The subpoenas seek financial records and communications as the receiver works to determine what recipients knew about the funds and whether any money can be recovered to repay investors.
Goliath Ventures is no longer operating and is now under the control of a South Florida-based receiver.
Before CEO Christopher Delgado was arrested in February on a federal criminal complaint, company records show Goliath donated at least $5.1 million to organizations across Central Florida.
Documents reviewed by Channel 9 list donations that included:
- Equity Estates — $1 million
- BET-David Consulting — $1 million
- Kids Beating Cancer — $552,000
- Runway to Hope — $404,000
- Orangewood Christian School — $448,000
- Victoria’s Voice Foundation — $230,000
In May 2025, Goliath Ventures served as the title sponsor for Runway to Hope’s signature fundraising event.
During the event, attorney Mark NeJame and the charity’s VO-founder publicly thanked Delgado for supporting the organization over multiple years.
Court records show the charities and organizations listed above, along with the Republican Party of Florida, received subpoenas seeking financial documents and communications. Records show Delgado donated $25,000 to the party in 2024.
Newly elected Apopka Mayor Nick Nesta was also referenced in court filings after he disclosed on social media earlier this year that he sold homes to Delgado.
The receiver is using the bankruptcy process to determine how much money can be recovered for investors.
Court filings indicate potential losses could total as much as $500 million — significantly higher than the $328 million previously referenced in the federal criminal complaint.
Runway to Hope provided Channel 9 with a statement saying:
“Our organization, along with dozens of other Central Florida nonprofits, received in good faith charitable donations in 2023 and 2024 from Goliath Ventures. We have voluntarily disclosed all contributions and will continue to cooperate. Our focus remains on supporting our children and families battling pediatric cancer throughout Central Florida and our hearts go out to all individuals who may have been affected by this sad situation.”
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