$XAN JPMorgan is $MYX currently facing a clawsuit in $TAO the U.S. District Court for the Northern District of California, accused of enabling a $328 million crypto Ponzi scheme run by Goliath Ventures. Plaintiffs claim the bank processed deposits and transfers tied to the operation, allowing the scheme to collect funds from more than 2,000 investors before collapsing.

The complaint alleges JPMorgan ignored obvious red flags and continued facilitating transactions that fueled the fraud. According to filings, Goliath CEO Christopher Delgado used Chase accounts to gather investor deposits, including retirement savings, while early participants were paid with money from later investors a structure mirroring a classic Ponzi scheme.

Losses reportedly reached $328 million, and while a separate federal case targets Delgado directly, the lawsuit against JPMorgan raises questions about the bank’s responsibility in monitoring suspicious activity.

XANBSC
XANUSDT
0.010878
-0.93%
MYXBSC
MYXUSDT
0.3365
-5.76%
TAO
TAO
--
--