On Friday, May 8, 2026, Law360 reported that investors seeking damages for a $328 million cryptocurrency fraud at Goliath Ventures Inc. have expanded their legal battle, filing an amended complaint in Florida federal court that adds several major financial institutions as defendants.

The litigation, which initially targeted the law firm Alston & Bird LLP for its alleged role in drafting questionable joint venture agreements, now seeks to hold Broad Financial LLC, Bank of America NA, JPMorgan Chase Bank NA, and Coinbase Global Inc. accountable for their purported contributions to the scheme.

The plaintiffs, a proposed class of investors, allege that these financial entities facilitated a Ponzi-like operation orchestrated by Goliath Ventures and its CEO, Christopher Delgado. According to the amended complaint, the defendants provided the necessary infrastructure and legitimacy that allowed the fraud to flourish, ultimately resulting in significant financial losses for individuals who invested their life savings and retirement funds.

Broad Financial LLC faces particularly sharp criticism in the filing. Investors characterize the company as the “steering wheel” of the scam. They allege that Broad Financial, which specializes in helping clients convert individual retirement funds into alternative investments, funneled money to the fraudsters while masquerading as a trusted advisor.

The complaint asserts that the company processed dozens of Goliath-referred investors through a standardized, defective intake process. Furthermore, the plaintiffs claim Broad Financial operated a referral fee program that paid promoters $200 for every investor directed to its services. This financial incentive, investors argue, caused the firm to ignore glaring red flags and abandon its fiduciary duties to clients in favor of collecting service and formation fees.

The allegations against JPMorgan Chase and Bank of America focus on their role as custodians of the bank accounts used by Delgado. The lawsuit claims that the banks were complicit in the fraud by hosting accounts that were utilized to pay existing investors with funds from new ones—a hallmark of Ponzi schemes—and to finance Delgado’s personal lifestyle. The plaintiffs argue that the banks, through their mandatory customer due diligence and anti-money laundering (AML) compliance protocols, should have identified the suspicious nature of the transactions, which included the unlicensed status of Goliath and its CEO.

Coinbase Global Inc. is also named for its alleged role in converting cash from these bank accounts into digital assets. The investors claim that between 2023 and 2025, approximately $165 million was deposited into Coinbase accounts, which were then used to transfer cryptocurrency to external wallets controlled by Goliath and Delgado. The complaint alleges that Coinbase was aware of the fraudulent nature of these transactions but continued to provide services, effectively enabling the operation to scale and maintain a veneer of legitimacy.

The new claims mirror similar litigation filed in New Jersey and Nevada earlier this year. Broad Financial faces counts including negligence, breach of fiduciary duty, and violations of the New Jersey Consumer Fraud Act. Meanwhile, JPMorgan Chase, Bank of America, and Coinbase are accused of aiding and abetting fraud and breaches of fiduciary duty.