JPMorgan Sued for Helping $328M Crypto Scam

Over 2,000 people who lost money in an alleged crypto scam are now suing JPMorgan Chase, one of America's biggest banks, claiming it helped the fraudsters steal $328 million.

The victims say they invested in a company called Goliath Ventures, which promised big returns from cryptocurrency trading. Instead, they claim it was a Ponzi scheme (a scam where new investors' money is used to pay fake "profits" to earlier investors, creating an illusion of success).

According to the lawsuit filed in California: • JPMorgan was Goliath's only bank and processed $253 million in deposits between 2023-2025 • The bank allegedly ignored obvious warning signs of fraud • Money was moved to Coinbase (a crypto exchange) and used to pay fake returns to investors • Christopher Alexander Delgado, who ran Goliath, was recently arrested for fraud

The victims argue that JPMorgan should have spotted the scam because of unusual banking patterns and the massive amounts of money flowing through the accounts. They claim the bank "provided the essential banking infrastructure" that made the fraud possible.

This case highlights how traditional banks can sometimes be involved - knowingly or unknowingly - in cryptocurrency scams. It also shows why investors should be extremely careful about promises of guaranteed high returns, especially in crypto investments.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/business/2026/03/12/alleged-ponzi-scheme-victims-sue-jpmorgan-for-banking-supposed-usd328-million-scam