Orange County Man Accused of Multi-Million Dollar Ponzi Scheme

Federal investigators are pointing fingers at an Orange County man for allegedly running a significant Ponzi scheme from an office tower in downtown Orlando.

Christopher Delgado has been arrested, with authorities claiming he orchestrated an investment fraud that totaled around $328 million through his venture, Goliath Ventures, which is also known as Generation Z Ventures.

If found guilty, Delgado could face as much as 30 years in federal prison.

While many investors might have anticipated making a profit, investigators argue that it was essentially a classic pyramid scheme.

Federal agents have charged Delgado with wire fraud and money laundering, asserting that he operated Goliath Ventures, or Gen Z Ventures. According to Goliath’s website, the company was said to assist high-net-worth investors by offering opportunities in cryptocurrency and Bitcoin mining.

The investigators indicated that Delgado would recruit individuals to invest large sums, promising them monthly returns based on what he called a “cryptocurrency liquidity pool.” However, the reality was different; he was allegedly using funds from new investors to pay returns to earlier ones.

In total, it’s believed he pocketed at least $328 million, which he reportedly used to acquire multiple high-value properties in Winter Park, Sanford, and Windermere.

Delgado was taken into custody on Tuesday and subsequently appeared in front of a federal judge. He has since been released after posting bail set at $1 million.