JPMorgan Chase faces a proposed class-action lawsuit in a California federal court. Investors accuse the bank of aiding a $328 million cryptocurrency Ponzi scheme. The suit alleges JPMorgan enabled Goliath Ventures by ignoring suspicious account activity.
Approximately $253 million associated with the fraud moved through a single JPMorgan account. These transactions occurred between January 2023 and June 2025. The complaint highlights the commingling of investor funds and frequent transfers to exchanges like Coinbase.
Federal authorities arrested Goliath Ventures CEO Christopher Delgado in February. Delgado faces federal charges of wire fraud and money laundering.