Christopher Delgado and his company, Goliath Ventures Inc., raised funds from 1,600 clients. However, they used the money to attract new users and for their own enrichment. In particular, Delgado embezzled $48 million, which he used to buy a yacht, services, and other luxury items. At the same time, the fraudster claimed that the funds were being used in crypto liquidity pools on DEXs. Delgado pleaded guilty to wire fraud and other charges, including money laundering. He faces up to 40 years in prison for fraud and up to 10 years for money laundering.