The CFTC charges a Florida man over a $397 MILLION crypto Ponzi scheme with 1,600 victims.

Christopher Delgado and his firm Goliath Ventures allegedly lied about putting customer funds in DeFi liquidity pools.

Instead he spent $48 million on a yacht, $4.9 million on world travel and $2.9 million on luxury apparel and jewelry.

Delgado already pleaded guilty to wire fraud in June and faces up to 20 years per count. The SEC filed parallel charges Tuesday.

💧 Rainbet.com the #1 Non-KYC Crypto Casino @rainbetcom