Christopher Delgado is accused of diverting investor funds to support an extravagant lifestyle, including luxury real estate, high-end vehicles, and other premium purchases, while allegedly operating a fraudulent scheme between 2023 and 2026.

Christopher Alexander Delgado, former CEO of Goliath Ventures, has pleaded guilty to fraud and money laundering charges tied to a crypto investment operation that prosecutors say defrauded investors of at least $400 million.

The Florida-based executive entered his guilty plea on Tuesday to conspiracy to commit wire fraud, wire fraud, and money laundering, according to the U.S. Attorney’s Office for the Middle District of Florida.

He faces a maximum sentence of up to 20 years in prison for each fraud count, plus an additional 10 years for the money laundering charge.

Prosecutors said Goliath Ventures, previously known as Gen-Z Venture Firm, raised funds from investors between January 2023 and January 2026, promoting monthly returns allegedly generated from crypto liquidity pools. Delgado admitted in his plea agreement that investor losses reached at least $250 million.

Authorities allege the scheme operated in a Ponzi-like manner, with incoming investor money used to pay earlier investors, process withdrawals, and finance personal luxury spending. Delgado is said to have purchased at least six residential properties valued between $1.15 million and $8.5 million each, along with luxury vehicles such as Lamborghinis and Rolls-Royces, Rolex watches, dozens of Louis Vuitton items, and custom Tiffany jewelry.

As part of his plea agreement, Delgado agreed to forfeit eight properties, 11 vehicles, 30 watches, more than 50 luxury bags and wallets, at least 29 pieces of jewelry, and multiple seized bank and crypto accounts.

The guilty plea follows his February arrest, when prosecutors alleged Goliath Ventures had raised at least $328 million while marketing “guaranteed” or low-risk monthly returns of 3% to 8%.

Investors have also filed a lawsuit against JPMorgan, alleging the bank processed roughly $253 million in Goliath-related transactions and failed to identify warning signs tied to the scheme.

Goliath entities were placed into receivership in March and later entered Chapter 11 bankruptcy in the Southern District of Florida, with proceedings continuing before Judge Robert A. Mark.

Delgado’s sentencing is scheduled for October 8.