. So we'll put the translation inside that.
Note: We should keep "Commodity Futures Trading Commission" and "Securities and Exchange Commission" but we can abbreviate as CFTC and SEC after first mention? But we have to keep the full names? In Japanese, we often write "商品先物取引委員会（CFTC）" and "証券取引委員会（SEC）" but we can also just say CFTC and SEC. Since it's a news article, we can use the abbreviations with full names on first mention. But we have to preserve the meaning. I'll translate as above.
Also "filed separate actions" - "別々に訴訟を提起した" or "別々に提訴した". "over an alleged crypto Ponzi scheme" - "暗号資産ポンジ・スキームの疑いで" or "暗号資産ポンジ・スキームを巡って". "that raised hundreds of millions of dollars" - "数億ドルを集めた" (hundreds of millions could be "数億ドル" but "hundreds of millions" might be "数億" or "何億" but we can say "数億ドル" as it's approximate. Actually "hundreds of millions" could be "数億ドル" or "億単位の" but we'll say "数億ドル" for simplicity.
"The complaints landed in the US District Court for the Middle District of Florida on the same day" - "訴状は同日、フロリダ州中部地区連邦地方裁判所に提出された" (we can use "連邦地方裁判所" for District Court). "roughly two months after Delgado pleaded guilty to criminal charges in the case." - "これはDelgado氏が同事件の刑事責任を認めてから約2か月後のことだ" (pleaded guilty = 罪を認める, but we can say "刑事責任を認めた" or "有罪を認めた").
Let's refine: "商品先物取引委員会（CFTC）と証券取引委員会（SEC）は、暗号資産ポンジ・スキームの疑いでGoliath VenturesとそのCEOであるChristopher Alexander Delgado氏に対して別々に訴訟を提起した。このスキームで数億ドルが集められたとされる。訴状は同日、フロリダ州中部地区連邦地方裁判所に提出されたが、これはDelgado氏が同事件の刑事責任を認めてから約2か月後のことだ。"
That seems good.
Next, heading:
The alleged scheme
->
疑惑のスキーム
or
疑惑の仕組み
. "scheme" can be "スキーム" but in Japanese we might say "仕組み" or "計画". But since it's a Ponzi scheme, we can say "スキーム". I'll use "疑惑のスキーム".
Then 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: "規制当局によると、Goliathは暗号資産の取引と流動性プールの運営を行うと主張し、投資家に月利3%から10%の収益と元本の返還を約束していた。CFTCは少なくとも3億9700万ドルを投入した約1600人の顧客を計上している。SECの数字はそれより高く、1300人以上の投資家から約4億2500万ドルとなっている。"
We need to keep numbers exactly: 3% to 10% -> 3%から10%, 1,600 customers -> 約1600人, $397 million -> 3億9700万ドル, $425 million -> 4億2500万ドル, 1,300 investors -> 1300人以上.
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: "しかし、その資金が流動性プールに投入されることはなかった。代わりに、新規投資家の資金が初期の投資家への支払いに使われた——典型的なポンジ・スキームの構造だ。口座残高や運用実績の数字は、運用が利益を上げているように見せかけるために捏造されていた。"
Next heading:
Where the money went
->
資金の行方
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氏は個人的に少なくとも5100万ドルを受け取り、住宅、高級車、ヨット、旅行に費やした。また、同社は販売代理店を雇い、投資家の資金から手数料を支払っていた。これらの点は訴状で争われていない。"
Next heading:
The collapse
->
崩壊
Paragraph: "By November 2025, Goliath could no longer bring in new money fast enough to keep up with redemption requests. The firm stopped distributions, and the whole thing fell apart. The scheme had run from at least January 2023 through January 2026, according to the article."
Translation: "2025年11月までに、Goliathは償還請求に応じるだけの新規資金を迅速に集めることができなくなった。同社は分配を停止し、すべてが崩壊した。このスキームは少なくとも2023年1月から2026年1月まで続いていたと記事は報じている。"
Note: "according to the article" - since we are translating the article, we might say "記事によると" but the article is the source. Actually the original says "according to the article" meaning the article itself? It might be a meta
