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CFTC and SEC Sue Goliath Ventures, CEO Over Alleged Crypto Ponzi Scheme

CFTC and SEC Sue Goliath Ventures, CEO Over Alleged Crypto Ponzi Scheme

tags. Original: "

The Commodity Futures Trading Commission and the Securities and Exchange Commission filed separate actions against Goliath Ventures and its CEO, Christopher Alexander Delgado, over an alleged crypto Ponzi scheme that raised hundreds of millions of dollars. The complaints landed in the US District Court for the Middle District of Florida on the same day, roughly two months after Delgado pleaded guilty to criminal charges in the case.

" Translation: "La Commodity Futures Trading Commission e la Securities and Exchange Commission hanno presentato azioni separate contro Goliath Ventures e il suo CEO, Christopher Alexander Delgado, per un presunto schema Ponzi crypto che ha raccolto centinaia di milioni di dollari. Le denunce sono arrivate presso la Corte Distrettuale degli Stati Uniti per il Distretto Medio della Florida lo stesso giorno, circa due mesi dopo che Delgado si è dichiarato colpevole delle accuse penali nel caso." We need to keep the names of the agencies in English as they are proper nouns, but we can translate "Commodity Futures Trading Commission" to "Commissione per il Commercio dei Futures su Merci" but it's usually kept as CFTC. The original spells out full names, so we can translate the full names? Actually, the original says "The Commodity Futures Trading Commission and the Securities and Exchange Commission" - we can translate these to Italian: "La Commodity Futures Trading Commission e la Securities and Exchange Commission" but that's not Italian. Better to translate: "La Commissione per il Commercio dei Futures su Merci e la Commissione per i Titoli e gli Scambi" but that's awkward. Usually, in Italian media, they say "la CFTC" and "la SEC". But since the original spells out, we can either keep as is or translate. The instruction says "Keep proper nouns (names, company names) in original form" so we should keep the full names as they are? But they are agency names, not company names. However, they are proper nouns. We'll keep them as is: "The Commodity Futures Trading Commission" and "The Securities and Exchange Commission" but in Italian we might say "La Commodity Futures Trading Commission" etc. But that's not Italian. Alternatively, we can use the acronyms with explanation? The instruction says "Use appropriate Italian terminology for crypto/tech terms" but these are regulatory bodies. I think it's acceptable to keep the English names as they are widely recognized. Many Italian articles say "la Commodity Futures Trading Commission (CFTC)" and "la Securities and Exchange Commission (SEC)". We'll do that. But we can also translate the description: "La Commodity Futures Trading Commission (CFTC) e la Securities and Exchange Commission (SEC)" - that's fine. We'll keep them in English. So: "La Commodity Futures Trading Commission (CFTC) e la Securities and Exchange Commission (SEC) hanno presentato azioni separate contro Goliath Ventures e il suo CEO, Christopher Alexander Delgado, per un presunto schema Ponzi crypto che ha raccolto centinaia di milioni di dollari. Le denunce sono arrivate presso la Corte Distrettuale degli Stati Uniti per il Distretto Medio della Florida lo stesso giorno, circa due mesi dopo che Delgado si è dichiarato colpevole delle accuse penali nel caso." But "filed separate actions" -> "hanno presentato azioni separate" is fine. "complaints" -> "denunce" but in legal context, "denunce" or "querele"? Actually, "complaints" in court are "denunce" or "atti di citazione"? We'll use "denunce" as it's common. Alternatively, "cause" but we'll say "denunce". Next heading:

The alleged scheme

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Il presunto schema

Paragraph: "Regulators say Goliath promised investors monthly returns of 3% to 10% from fees, plus return of principal, by claiming to trade crypto assets and run liquidity pools. The CFTC counts about 1,600 customers who put in at least $397 million. The SEC's number is higher: around $425 million from more than 1,300 investors." Translation: "I regolatori affermano che Goliath ha promesso agli investitori rendimenti mensili dal 3% al 10% derivanti dalle commissioni, oltre al rimborso del capitale, dichiarando di negoziare asset crypto e gestire pool di liquidità. La CFTC conta circa 1.600 clienti che hanno versato almeno 397 milioni di dollari. Il numero della SEC è più alto: circa 425 milioni di dollari da più di 1.300 investitori." Note: "from fees" -> "derivanti dalle commissioni" but original says "from fees" meaning the returns came from fees? Actually, "promised monthly returns of 3% to 10% from fees" - so the returns were supposed to come from fees. We'll say "provenienti dalle commissioni" or "derivanti dalle commissioni". Also "plus return of principal" -> "oltre al rimborso del capitale". "by claiming to trade crypto assets and run liquidity pools" -> "dichiarando di negoziare asset crypto e gestire pool di liquidità". Good. Next paragraph: "But the money never went into any liquidity pool. Instead, new investor funds were used to pay earlier investors — the classic Ponzi structure. Account balances and performance figures were fabricated to make the operation look profitable." Translation: "Ma il denaro non è mai andato in nessun pool di liquidità. Invece, i fondi dei nuovi investitori sono stati utilizzati per pagare i precedenti investitori — la classica struttura Ponzi. I saldi dei conti e le cifre delle performance sono stati fabbricati per far sembrare l'operazione redditizia." We need to use "pool di liquidità" for liquidity pool. "Account balances" -> "saldi dei conti". "performance figures" -> "cifre delle performance" or "dati sulle performance". We'll use "cifre delle performance". Next heading:

Where the money went

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Dove è finito il denaro

Paragraph: "Delgado personally took at least $51 million, spending it on homes, luxury vehicles, a yacht, and travel. The company also hired sales agents and paid them commissions out of investor funds. None of that is disputed in the filings." Translation: "Delgado ha preso personalmente almeno 51 milioni di dollari, spendendoli in case, veicoli di lusso, uno yacht e viaggi. L'azienda ha anche assunto agenti di vendita e ha pagato loro commissioni dai fondi degli investitori. Nessuno di questi fatti è contestato nei documenti." "filings" -> "documenti" or "atti" but we'll say "documenti" or "denunce" but it's the court filings. We'll say "nei documenti" or "negli att