Class action lawsuit filed in California against JPMorgan Chase over crypto pyramid scheme allegations
In California, a class action lawsuit has been filed against JPMorgan Chase, accusing the bank of facilitating a $328 million crypto pyramid scheme organized by Goliath Ventures. This case is significant as it involves one of the largest U.S. banks allegedly linked to a large-scale financial fraud.
According to the plaintiffs, JPMorgan accounts served as a crucial channel for investor funds, with about $253 million moving through the bank, and an additional $123 million sent to crypto wallets hosted on Coinbase. The plaintiffs argue that without the banking infrastructure, the scheme could not have operated.
This lawsuit could set a precedent for holding major financial institutions accountable for their roles in cryptocurrency-related financial crimes.
