JPMorgan Chase Hit with Class Action Lawsuit for Allegedly Providing Banking Infrastructure to $328 Million Crypto Ponzi Scheme

DeepFlowTech · 2026-03-12T14:44:37+00:00

JPMorgan Chase faces a class action lawsuit in California for allegedly providing banking services to Goliath Ventures' $328 million cryptocurrency Ponzi scheme. The lawsuit alleges that its anti-money laundering systems failed to identify signs of fraud, with plaintiffs representing over 2,000 investors seeking compensation.

DeepFlowTech

2026-03-12 14:44:37

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Deep Tide TechFlow News, March 12 — According to The Block, JPMorgan Chase is facing a class-action lawsuit in the Northern District of California federal court for allegedly providing banking infrastructure for a $328 million cryptocurrency Ponzi scheme operated by Goliath Ventures. The lawsuit claims that between January 2023 and June 2025, approximately $253 million was deposited into Chase accounts, with $123 million transferred to Coinbase wallets and about $50 million paid to investors as fake returns.

The complaint states that Chase’s anti-money laundering system failed to detect red flags such as rapid inflows and outflows of funds and account commingling, and continued to serve the scheme even after becoming aware of the fraud. The lawsuit, filed on behalf of over 2,000 investors, seeks damages and the recovery of fees earned by Chase. Goliath Ventures CEO Christopher Delgado was arrested on February 24.

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