Federal authorities announced Tuesday the arrest of a Apopka resident and former Orange County Commission candidate for allegedly operating a $328 million Ponzi scheme.  

Christopher Alexander Delgado, 34, was arrested on a criminal complaint charging him with wire fraud and money laundering, according to a press release from the U.S. Attorney’s Office for the Middle District of Florida. If convicted on all counts, Delgado faces a maximum penalty of 30 years in federal prison. 

Delgado was president and chief executive officer of Goliath Ventures Inc., formerly known as Gen-Z Venture Firm, according to the press release. In 2022, he ran unsuccessfully for the Orange County District 2 commission seat, finishing third behind Christine Moore and Sandra Fatmi-Hall.  

Federal authorities allege that from January 2023 through January 2026, Delgado managed Goliath as a Ponzi scheme, a type of investment fraud in which funds from new investors are used to pay purported returns to earlier investors. 

Authorities said Goliath obtained at least $328 million from investors, and Delgado allegedly used investor funds to acquire four residential properties each valued between $1.15 million and $8.5 million. 

“Delgado’s scheme involved soliciting victims to invest substantial sums of money under false and fraudulent promises of monthly returns generated through cryptocurrency ‘liquidity pools,’” the press release said. “Victims were induced to give money to Goliath through personal referrals, professional marketing materials, luxury events, charitable sponsorships, and some monthly payments of purported returns, all of which were designed to establish Goliath’s bona fides with investors.”   

Instead of investing the money as promised, authorities say the money was used to pay earlier investors, return principal to some investors and finance lavish business gatherings, holiday parties and luxury excursions.  

Internal Revenue Service Criminal Investigation and Homeland Security Investigations are investigating the case. Assistant U.S. attorneys are handling prosecution.  

A criminal complaint is only an allegation, and Delgado is presumed innocent unless and until proven guilty in court.  

According to Fox35, Delgado has traveled in high political circles and has posted photos online with figures including President Donald Trump, Florida Gov. Ron DeSantis, and U.S. House Speaker Mike Johnson.