Christopher Delgado’s Goliath Ventures is running out of places to hide.

After publishing Part 1 of our investigation, whistleblowers and insiders stepped forward with more damning material: internal newsletters, promotional blasts, and the so-called “Independent Evaluation Report.” Together, they paint an unmistakable picture — this is a Ponzi dressed up as prestige.

What the Investor Emails Actually Say

1) The “Distribution Timeline” machine

Instead of transparent DeFi yield, Goliath choreographs monthly payouts. In an April 2025 blast:

“you can expect distributions to be processed and sent out between the 15th and 18th of each month… we ask that you wait for any updates from our team during the review period.”

That’s not blockchain automation. That’s a centralized payout calendar, the same kind used by past Ponzis to buy time.

2) “We’ve officially partnered with Merrill Lynch Bank of America”

A May 2025 “Message from the CEO” claimed:

“We have officially partnered with Merrill Lynch Bank of America to handle our future banking and custodial needs.”

No supporting detail, no named custodians, no account structures. Just a name-drop in a Mailchimp blast. If true, Merrill Lynch would confirm in writing. They haven’t.

3) The “Audit Review” that lives behind a Mailchimp link

PDFTwo blasts promoted a PDF called GOLIATH-VENTURES-FINANCIAL-AUDIT-REVIEW.pdf. Legitimate audits are issued by registered firms under defined standards. This one? Just a file link in an email campaign. No auditor, no standards, no opinion.

4) Heavy focus on sales infrastructure

Multiple internal memos were addressed to “Directors of Partner Services” and revolved around Salesforce trainings led by BlackBlock:

“Mandatory meeting… Following the meeting, the BlackBlock team will be conducting an introductory training session on the Salesforce platform.”

That’s sales force development, not investment operations.

5) Vanity and vibes, not proof

From “A Day at The White House” to “Happy Father’s Day,” newsletters pushed optics and seasonal cheer. What’s missing? On-chain addresses, mining stats, liquidity pool IDs — anything that proves real revenue.

The “Audit” That Isn’t an Audit

In August 2025, Goliath distributed an “Independent Evaluation Report” by BlackBlock Management Services (BMS). It claimed to review financials and concluded that Goliath had “115% of partner balances at all times.”

The problems:

  • Not independent. BlackBlock isn’t a licensed audit firm. They’re the same outfit running Salesforce trainings for Goliath’s sales reps. That’s a conflict of interest, not independence.
  • No standards. Real audits cite PCAOB, IAS, or AICPA standards. This one uses vague language like “evidence-based approach.”
  • No opinion letter. Instead of an audit opinion, it parrots marketing lines about “conservative strategy” and “sufficient reserves.”
  • Contradictory disclaimer. On the last page, it admits the review is based only on what Goliath provided and warns partners not to rely solely on it.

The most absurd claim: that Goliath always had “100% or more of all partner balances at all times.” No auditor would ever write that. It’s mathematical nonsense — and a dead giveaway this was sales theater, not a professional evaluation.

What the Contract Really Commits Them To

The Joint Venture Agreement itself spells out the impossible:

  • Guaranteed monthly returns: 3–4% depending on investment size.
  • Guaranteed principal: “absolute and binding.”
  • Minimum $100,000 entry point.
  • Withdrawal delays: up to 90 days at Goliath’s discretion for “suspicious activity,” “system hacks,” or “exchange delays.”
  • Not an investment. The contract insists it’s “not an investment product” — even as it promises fixed returns.

This is classic Ponzi legalese: dangle guarantees on one page, take them away with disclaimers on the next.

The Pattern Across the Archive

  • Payout choreography, not proof. Investors are told when they’ll be paid, not shown how.
  • Bank prestige by assertion. Merrill Lynch is name-dropped, never substantiated.
  • Audit without an auditor. A Mailchimp file link, not an independent firm.
  • Sales ops over investment ops. Weekly Salesforce trainings for “Directors of Partner Services.”
  • Optics over evidence. White House photos, holiday greetings, and hype — but no verifiable income streams.

What’s Still Missing (and Always Has Been)

  • On-chain evidence. No wallets, no contracts, no LP tokens.
  • Mining proof. No hashrates, no facilities, no power agreements.
  • Custody verification. No letters from custodians or regulated entities.
  • Regulatory compliance. No SEC filings, no blue-sky law analysis, no exemptions.
  • Real audit. No licensed firm, no standards, no independence.

The Bottom Line

Christopher Delgado’s Goliath Ventures isn’t offering transparency. It’s offering theater: glossy newsletters, fake audits, and sales trainings dressed up as finance. Investors are shown jets, parties, and mansions — but behind the curtain, there’s no verifiable evidence of actual investment activity.

This is the same formula that sank HyperVerse, NovaTech, and dozens of other Ponzi schemes. Guaranteed returns, guaranteed principal, withdrawal gates, and marketing instead of proof.

The investor emails and “audit” don’t strengthen Goliath’s credibility — they destroy it.

Where to Start

This follow-up only scratches the surface. In Part 1, I broke down the contract itself — the promises, the contradictions, and the escape hatches Goliath baked in. If you missed it, start there: dehek.com/general/ponzi-scheme-scamalerts/goliath-ventures-exposed-glossy-promises-shaky-contracts-and-the-dark-reality-of-guaranteed-returns/

Disclaimer: How This Investigation Was Conducted

This investigation relies entirely on OSINT — Open Source Intelligence — meaning every claim made here is based on publicly available records, archived web pages, corporate filings, domain data, social media activity, and open blockchain transactions. No private data, hacking, or unlawful access methods were used. OSINT is a powerful and ethical tool for exposing scams without violating privacy laws or overstepping legal boundaries.

About the Author

I’m DANNY DE HEK, a New Zealand–based YouTuber, investigative journalist, and OSINT researcher. I name and shame individuals promoting or marketing fraudulent schemes through my YOUTUBE CHANNEL. Every video I produce exposes the people behind scams, Ponzi schemes, and MLM frauds — holding them accountable in public.

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