JPMorgan Chase Faces Class Action Lawsuit for Allegedly Assisting Goliath Ventures Cryptocurrency Ponzi Scheme

MarsBitNews · 2026-03-13T02:38:17+00:00

Investors have filed a class action lawsuit against JPMorgan Chase, alleging it facilitated a $328 million cryptocurrency Ponzi scheme operated by Goliath Ventures, accusing the bank of failing to stop suspicious transactions and ignoring red flags, with approximately $123 million in funds flowing to Coinbase. Goliath's CEO manipulated funds through personal accounts and released false returns.

MarsBitNews

2026-03-13 02:38:17

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Mars Finance reports that a group of investors has filed a class-action lawsuit against JPMorgan Chase, accusing the bank of facilitating a $328 million cryptocurrency Ponzi scheme operated by Goliath Ventures. The lawsuit states that JPMorgan Chase was Goliath’s main banking institution, and despite suspicious transactions, the bank did not intervene, allowing funds to be transferred through its accounts and Coinbase wallets. The plaintiffs point out that JPMorgan Chase’s partnership with Coinbase made it lax in monitoring Goliath’s transactions, and that Goliath, as a profitable client, caused the bank to overlook its operations. Approximately $123 million was sent from JPMorgan Chase accounts to Coinbase, with Goliath’s CEO controlling the funds through a personal Coinbase account, actually only investing $1 million into a liquidity pool and posting false returns on its website. In February, it was reported that Goliath Ventures’ former CEO was arrested for allegedly operating a $328 million cryptocurrency Ponzi scheme.

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