Chase Bank ignored red flags in its accounts that allowed for a $328 million cryptocurrency Ponzi scheme, a purported complaint filed in California federal court alleges.

The world’s largest bank didn’t step in for two years while a Florida businessman duped roughly 2,000 investors while he held onto most of the cash and bought himself luxury goods and properties, according to the complaint filed Tuesday in the US District Court for the Northern District of California.

“Our complaint alleges that JP Morgan Chase aided and abetted the Goliath Ponzi scheme by providing essential banking services while ignoring clear indicators of …