“Partners also have the option to compound their money on a monthly basis which is equivalent to 60% per year.”

That statement was not pulled from a marketing video, an anonymous Telegram group, or a social media post.

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It appears in an email attributed to Mike Chmielewski, Goliath Ventures’ Director of Partner Services, and forms part of a public court filing attached to Proof of Claim #288 in the Goliath Ventures Chapter 11 bankruptcy.

As I continue reviewing bankruptcy filings, investor communications, and evidence submitted by victims, a clearer picture is emerging of how confidence was built around Goliath Ventures. The latest exhibit contains signed monthly distribution reports, onboarding emails, cryptocurrency wallet instructions, and an extensive exported chat history involving Chmielewski himself.

What makes this material significant is that it does not come from critics, investigators, or anonymous whistleblowers. These are communications allegedly sent directly to an investor and later filed as evidence in the bankruptcy proceedings. Together, they provide a detailed look at the promises being made, the returns being discussed, the security assurances being offered, and the mechanisms used to convince investors that their funds were safe.

The documents provide a rare opportunity to examine what investors were being told behind the scenes and how confidence in Goliath Ventures was established, reinforced, and maintained through direct communication.

Signed Documents Promising Monthly Returns

Among the documents included in the exhibit are multiple monthly distribution reports bearing Mike Chmielewski’s signature. According to the filing, these reports explicitly reference a 3.00% monthly distribution rate combined with automatic hypercompounding.

One report reportedly shows nearly $6,000 in hypercompounded earnings generated in a single month on a balance of approximately $199,000.

The documents also include a July 2024 email in which Chmielewski explained the opportunity in simple terms.

According to the filing, he wrote:

“As an example, a $100,000 USD partnership pays $4,000 USD every month (48% per year). Partners also have the option to compound their money on a monthly basis which is equivalent to 60% per year.”

The same communication reportedly described Goliath Ventures as operating large liquidity pools on Uniswap using a USDC/ETH pairing while stating that investor funds were always held in USDC.

For many investors, these types of explanations helped create the impression that there was a legitimate underlying trading strategy generating the returns being paid out.

The Exported Chat Conversations

Mike Chmielewski The WhatsApp ConversationsThe exhibit goes considerably further than monthly reports and promotional emails.

Included in the filing is an exported chat history that allegedly captures direct conversations between Mike Chmielewski and an investor.

According to the documents, the discussions included not only investment opportunities but also personal return arrangements and referral compensation structures.

One message reportedly states:

“I’ll give you 6% per month on your money as well but we sell it for 4%.”

Another message outlined what appears to be a 2% per month commission structure for introducing new investors.

According to the filing:

“I’m offering you 2% per month on other peoples money as long as it remains in the fund. So if you bring in $100,000, then you’ll make $2,000 per month…”

These communications are noteworthy because they move beyond general marketing claims and into direct one-on-one discussions regarding returns, commissions, and compensation arrangements.

The exhibit also contains evidence of cryptocurrency wallet exchanges and confirmations of deposits, including a reported USDT transfer of approximately $7,500 during August 2024.

If authentic, these conversations provide a rare look into the private discussions taking place between a Goliath Ventures representative and a prospective investor. Rather than relying solely on presentations or promotional materials, the chat history appears to show direct conversations about returns, referral incentives, cryptocurrency transfers, and the practical mechanics of participating in the opportunity.

How Trust Was Built

One of the most revealing parts of the filing is not the discussion about returns.

It is the discussion about security.

Throughout my investigations into investment schemes, I repeatedly encounter the same pattern. High returns alone are rarely enough to convince cautious investors. What often persuades people is the belief that the opportunity is professionally managed, independently protected, and safeguarded against fraud or theft.

A February 2, 2025 conversation contained within the exhibit provides an example of how those assurances were allegedly presented.

When asked how Goliath Ventures’ liquidity pools were protected from hackers, Mike Chmielewski reportedly responded with a detailed explanation of the company’s security measures.

According to the filing, he stated that wallet addresses would never be exposed, assets were diversified across multiple pools, multi-signature controls were in place requiring approvals from multiple team members and a lawyer, and that distributions could not be traced back to liquidity pool addresses.

The response also contained a particularly significant claim.

According to the exhibit, investors were told:

“Our head of cyber security on our team is an FBI consultant and worked with the FBI for over 25 years.”

The filing indicates that this statement was presented as part of a broader explanation of the company’s cybersecurity framework and operational safeguards.

The conversation then went on to discuss insurance and bonding protections that were allegedly available to protect investor funds from internal misconduct, cyberattacks, operational mistakes, and executive wrongdoing.

For many investors, assurances like these can be just as influential as promised returns. Claims involving FBI-linked expertise, multi-signature controls, legal oversight, and insurance protection help create the impression that risks have been carefully managed and that investor funds are protected by multiple layers of security.

Whether these representations were accurate, how they were communicated to investors, and what supporting evidence exists for them are questions that continue to emerge as the bankruptcy proceedings unfold.

Fidelity Bond And Insurance Claims

The same conversation reportedly included assurances that Goliath Ventures was bonded and insured by Fidelity.

According to the filing, investors were told the coverage protected against:

  • Internal misappropriation or embezzlement
  • Cybersecurity breaches involving wallet access
  • Accidental transfers to incorrect wallet addresses
  • Director and Officer liability involving executive misconduct

Whether these protections existed, the extent of any coverage, and how those representations were communicated to investors are important questions that continue to emerge as the bankruptcy process unfolds.

What is clear from the exhibit is that these were not vague statements.

They were detailed, specific, and presented as concrete safeguards designed to address the exact fears many investors have when placing funds into cryptocurrency ventures.

For individuals considering whether to invest, assurances involving insurance coverage, cybersecurity specialists, legal oversight, and references to FBI expertise can carry considerable weight.

The Wallet Addresses

The public filing also contains several cryptocurrency wallet addresses allegedly provided by Mike Chmielewski during communications with investors.

The addresses listed in the exhibit include:

The filing also references the Tron address:

As always, wallet addresses become particularly important when investigators, receivers, regulators, and victims attempt to reconstruct the movement of funds.

Why This Filing Matters

What makes this evidence particularly important is that it is not anonymous promotional material circulating on the internet.

According to the bankruptcy filing, these are signed reports, direct emails, and private communications attributed to Mike Chmielewski himself.

The same individual allegedly discussing monthly returns, referral commissions, wallet addresses, insurance protections, cybersecurity measures, and FBI-linked expertise now appears throughout the public bankruptcy record.

For victims who invested after receiving similar assurances, this material helps explain why so many people believed the opportunity was legitimate.

These were not simplistic promises. They were layered explanations supported by technical language, security claims, operational descriptions, and repeated references to oversight and protection mechanisms.

That combination can be highly persuasive.

A Message To Victims

If you invested with Goliath Ventures and possess emails, chat conversations, exported message histories, wallet records, distribution reports, presentations, cryptocurrency transaction records, or any other documentation involving Mike Chmielewski or any other Goliath Ventures representative, consider preserving those records and sharing them with the appropriate authorities.

Every document helps build a clearer understanding of what occurred. Even information that may seem insignificant to you could assist investigators in reconstructing timelines, tracing funds, identifying promoters, verifying representations made to investors, or corroborating statements provided by other victims.

The Receiver, Michael Budwick, has requested information from investors, and the IRS Criminal Investigation Division has also established channels for victims and witnesses to come forward.

To contact the IRS Criminal Investigation team, please complete the victim information form: irsci.gov1.qualtrics.com/jfe/form/SV_5BzHRSIM51tC9YG

Alternatively, you may email: goliathvictims@ci.irs.gov

Information and supporting documentation can also be provided directly to the Receiver at: goliathventuresreceiver@gmail.com

For bankruptcy updates, court filings, and case information, visit: goliathventuresbk.com

Many people are still carrying embarrassment, frustration, or regret about what happened.

The evidence emerging through these filings tells a different story.

The materials show a coordinated effort to present Goliath Ventures as professional, secure, insured, and capable of generating consistent monthly returns. Investors were not simply sending money based on blind faith. They were often provided with detailed explanations, professional presentations, distribution reports, security assurances, and ongoing communications that reinforced confidence in the operation.

As the bankruptcy filings continue to grow, a clearer picture is emerging of how confidence was built, how relationships were developed, and how representations about returns, security, oversight, and risk management were communicated to investors.

You were not alone in believing those representations.

As more filings become available, I will continue reviewing the evidence, comparing the claims made to investors against the records now appearing in court, and documenting what the public record reveals.

The story is far from over.

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.

My PODCAST is an extension of that work. It’s distributed across 18 major platforms — including Apple Podcasts, Spotify, Amazon Music, YouTube, and iHeartRadio — so when scammers try to hide, my content follows them everywhere. If you prefer listening to my investigations instead of watching, you’ll find them on every major podcast service.

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