TechFlame reports that investors filed a class-action lawsuit on Tuesday in the U.S. District Court for the Northern District of California, accusing JPMorgan of failing to prevent suspicious transactions and allowing the company to use its banking infrastructure to collect investor funds in a $328 million crypto Ponzi scheme operated by the now-defunct Goliath Ventures. The complaint alleges that JPMorgan served as the sole banking provider for Goliath from January 2023 to May or June 2025, during which Goliath raised at least $328 million from over 2,000 investors. Approximately $253 million was deposited into JPMorgan’s 0305 account, and about $123 million was transferred to wallets held by Goliath on Coinbase. Previously, the U.S. Attorney’s Office for the Middle District of Florida announced on February 24 the arrest of Goliath CEO Christopher Delgado, who faces up to 30 years in federal prison. Prosecutors stated that Goliath (formerly known as Gen-Z Venture Firm) operated the scheme from January 2023 to January 2026. Another criminal complaint revealed that Goliath also held a commercial account at Bank of America, with Delgado as a co-signer.