JPMorgan Sued Over Crypto Ponzi Scheme
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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JPMorgan Faces Class Action Lawsuit Over Crypto Ponzi Scheme: Investors Lose $328M
Investors have filed a class action lawsuit against JPMorgan, accusing the bank of aiding a crypto Ponzi scheme that defrauded over $328M from 2,000 people. The suit claims JPMorgan ignored red flags and allowed scammers to use its systems to steal the funds. The case, centered on Goliath Ventures, landed in federal court in northern California. JPMorgan served as Goliaths sole bank for over two years, despite its CEOs past criticism of Bitcoin. One plaintiff lost $650,000, including retirement savings. Funds flowed from JPMorgan and Bank of America accounts to Goliaths Coinbase wallets, controlled by CEO Christopher Delgado. Lawyers plan more lawsuits to boost recovery efforts without overlapping federal work.
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