Christopher Delgado, a former crypto company executive in Florida, has admitted to federal crimes in a fraud case prosecutors say pulled in at least $250 million and wiped out savings for numerous investors, as Fox 35 Orlando reports.

The case is another reminder that high-risk investment pitches can carry even greater dangers when the promised returns are difficult to verify.

What happened?

According to Fox 35, Delgado, the former head of Goliath Ventures, entered a guilty plea to federal conspiracy, wire fraud, and money laundering charges tied to what prosecutors described as a Ponzi scheme involving more than 1,000 investors.

Court records cited by the outlet say he acknowledged that investors put in at least…