“Today at the Armor Within Expo I got to sit down with Ohio Attorney General Andy Wilson, the state’s top cop.”
That was how Tomo Marjanovic described his meeting with Ohio Attorney General Andy Wilson, sharing footage of the two men together following Marjanovic’s appearance at the Armor Within Expo, an event focused on wellness and the law-enforcement community.
The image is striking on its own.
But the circumstances surrounding it raise a broader set of questions.
For months, I have been investigating Christopher Delgado and Goliath Ventures Inc., including the people and business relationships surrounding the company while it was attracting investors.
On September 16, 2025, I contacted Marjanovic directly.
I wanted to know whether he had invested money with Goliath, whether he had received distributions, whether he had encouraged other people to participate, and whether he had ever been provided with independent documentation supporting the investment claims being made.
In particular, I asked about audits, custodian records and blockchain evidence that could independently verify what investors were being told.
The questions were prompted by publicly available evidence showing Marjanovic’s association with Delgado and Goliath.
They were also prompted by another network in which Marjanovic had publicly positioned himself.
Andrew Tate’s War Room.
Marjanovic has described himself as one of the network’s 33 mentors. He also appeared in footage from a yacht gathering where Christopher Delgado and Mike Chmielewski were present.
At the time, those connections were part of a wider investigation.
Today, the circumstances are very different.
Christopher Delgado has pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering.
Regulatory proceedings have also alleged that Goliath Ventures obtained hundreds of millions of dollars from investors. The CFTC has alleged at least $397 million, while the SEC has alleged that Goliath raised at least $425 million.
Yet Marjanovic continued his public activities.
In 2026, he appeared at Armor Within, an event aimed at law enforcement and first responders.
He later published footage of himself with Ohio Attorney General Andy Wilson.
There is a part of that sequence that should not be overlooked.
I Warned Armor Within Before the Event
On June 27, 2026, before Marjanovic took the stage, I contacted Armor Within.
I explained that I was investigating Goliath Ventures and Christopher Delgado. I informed the organisers about Delgado’s guilty plea and raised the documented connections I had found between Marjanovic and Goliath.
I encouraged them to conduct their own investigation and offered to provide the supporting material.
The organisers proceeded with Marjanovic.
Around the same period, another process was unfolding in bankruptcy court.
The Goliath Ventures bankruptcy estate sought records from Tomislav “Tomo” Marjanovic under Rule 2004. The initial notice was filed in May 2026, followed by an amended notice in June and a further amended notice on August 20, 2026.
The requested material goes well beyond basic background information.
The requests include communications between Marjanovic and Delgado, communications concerning Goliath Ventures, cryptocurrency account records, transaction histories, bank and brokerage records, and documentation concerning transfers between Marjanovic and Goliath or individuals associated with the company.
That does not mean the bankruptcy estate has established wrongdoing by Marjanovic.
A Rule 2004 request is a discovery mechanism.
But the subjects of the requested records are significant.
They overlap with questions I had already been asking Marjanovic for months.
And then there is the financial evidence.
The Coinbase Records
I reviewed an Analysis of Transaction Data concerning a Coinbase account attributed to Tomo Marjanovic.
The analysis identifies approximately $460,649 in USDC transferred from the account to a blockchain address identified as belonging to Goliath Ventures.
One transaction deserves particular attention.
On September 13, 2024, approximately $16,992.48 in USDC was transferred to the identified Goliath address.
The transaction contains the notation:
“GV EXEC PARTNER CONTRIBUTION.”
That description raises obvious questions about the nature of the payment.
What did “executive partner contribution” mean?
Was it an investment?
Was it connected to a business arrangement?
Was there a written agreement behind it?
Those questions cannot be answered by the transaction itself.
The transaction establishes movement of funds. It does not, by itself, establish intent or wrongdoing.
The same analysis identifies another significant figure.
Approximately $4.45 million in cryptocurrency entered the Coinbase account from two principal external addresses during the period examined.
Approximately $298,140 came from one address and approximately $4.137 million from another.
However, the available analysis does not identify who controlled those addresses.
That distinction is critical.
I am not describing those incoming funds as Goliath money because the evidence currently available does not establish that connection.
Instead, they represent another unresolved part of the financial picture.
Who controlled the addresses?
Why were those funds being transferred?
What was their relationship, if any, to Marjanovic’s business activities or Goliath Ventures?
Those are questions that require additional evidence.
Separately, the Avengers Anti-Fraud Alliance has identified nearly $10 million in cryptocurrency currently held in wallets associated with the network used to distribute funds to Goliath investors while the operation was active.
That figure refers to cryptocurrency presently identified in those wallets. It does not represent the entire historical transaction volume associated with the network.
I have also received confidential financial intelligence concerning Marjanovic.
I am not publishing that material or information that could reveal the identity of its source.
Where confidential information generates an investigative lead, I seek independent confirmation through court documents, blockchain records and other verifiable evidence before publishing a conclusion.
The Goliath Bankruptcy Requests
The financial records become more interesting when placed alongside the bankruptcy proceedings.
On May 14, 2026, Goliath Ventures, through its bankruptcy counsel, filed a Rule 2004 notice seeking information from Marjanovic.
An amended notice followed on June 17.
A Second Amended Notice was subsequently filed on August 20, 2026, establishing a new production date of September 18.
There is an important point of accuracy here.
The request was not a Department of Justice subpoena issued directly to Marjanovic.
It was sought by Meland Budwick, P.A., counsel for the Goliath Ventures debtors, as part of the Chapter 11 bankruptcy proceedings.
Federal agencies may appear on electronic service records, but that does not mean those agencies issued the subpoena.
The contents of the request are what matter.
The bankruptcy estate seeks documents relating to Goliath Ventures, including agreements, contracts, correspondence, financial records and corporate information.
It also seeks communications between Marjanovic and Goliath and communications between Marjanovic and Christopher Alexander Delgado.
The requests specifically address digital assets.
They seek records concerning cryptocurrency and other digital-asset accounts held by Marjanovic, including account-opening documentation, statements and transaction histories.
The requests also cover traditional financial records.
Bank statements.
Brokerage statements.
Other financial-account records.
And, importantly, records concerning transfers between Marjanovic and Delgado, Goliath or Goliath officers, principals and affiliates.
The requested period begins January 1, 2019 and continues through compliance.
That matters because the Coinbase analysis I reviewed already identifies cryptocurrency transfers between an account attributed to Marjanovic and an address identified as belonging to Goliath.
The bankruptcy requests potentially seek the documentation necessary to put those transactions into context.
What was the purpose of the transfers?
What agreements existed?
What communications occurred?
What other financial transactions took place?
And what relationship existed between Marjanovic and Delgado?
The bankruptcy filings do not answer those questions by themselves.
They demonstrate that the estate is seeking information capable of answering them.
From the War Room to Goliath
To understand why Marjanovic’s public network matters, it is necessary to look backward.
Marjanovic has publicly described himself as one of 33 mentors in Andrew Tate’s War Room.
His role was presented as that of a mentor rather than simply someone attending occasional events.
He discussed business, health optimisation and personal development.
Christopher Delgado also appeared within overlapping circles.
I reviewed footage from a yacht gathering associated with the War Room where Marjanovic appeared alongside Delgado and Mike Chmielewski.
There were other public interactions.
On October 30, 2024, Marjanovic posted from Yankee Stadium during Game 5 of the World Series.
Among those pictured were Christopher Delgado and Patrick Bet-David.
Marjanovic described the people around him as his “brothers” and tagged Delgado.
Again, these associations do not establish criminal conduct.
A photograph does not establish a financial relationship.
A friendship does not establish participation in another person’s crimes.
But these relationships matter when investigating how a financial operation built credibility and how people surrounding its leadership interacted with one another.
Goliath was not offering investors something they could simply inspect physically.
Investors had to trust the people making the claims.
That makes reputation important.
Business success, wealth, exclusive events, prominent acquaintances and perceived expertise can all contribute to the credibility of an investment proposition.
Marjanovic also had another source of credibility.
His background in law enforcement.
According to his public account, he entered the police academy in 2007 and remained in law enforcement until 2018.
He subsequently transitioned into entrepreneurship and wellness.
There is nothing inherently wrong with that career path.
The investigative question is what happened when his law-enforcement identity, entrepreneurial network and relationship with people associated with Goliath began intersecting.
The Questions I Asked Before Goliath Collapsed
When I contacted Marjanovic on September 16, 2025, Goliath Ventures was still operating.
I asked whether he had invested.
I asked how much he had invested and under what terms.
I asked whether he had received distributions.
I asked whether he had promoted the operation.
And I asked whether he had introduced other people to Goliath.
I also asked about representations concerning 3–4% monthly returns, principal guarantees and insurance, because those representations were relevant to my wider investigation.
Another issue was verification.
Had Marjanovic seen independent audits?
Had he been shown custodian documentation?
Had he been provided with blockchain evidence capable of independently confirming the underlying investment activity?
Those questions were being asked while Goliath was still active.
They were not created after the company collapsed.
I gave Marjanovic an opportunity to respond and indicated that I was prepared to consider his answers.
The subsequent collapse of Goliath changed the significance of those questions.
Delgado was charged.
He ultimately pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering.
Regulators separately brought civil actions.
The SEC alleged that Goliath raised at least $425 million from more than 1,300 investors.
The CFTC alleged that at least $397 million was obtained from approximately 1,600 customers.
Questions about promoters, payments and relationships were now part of a much larger federal investigation and bankruptcy process.
Then Came Armor Within
The Armor Within appearance happened after these developments.
That chronology is important.
I did not contact the organisers because of a random photograph.
I contacted them on June 27, 2026, after Delgado’s guilty plea and after the Goliath investigation had developed substantially.
I explained the concerns and offered supporting evidence.
Armor Within nevertheless proceeded with Marjanovic.
According to publicity distributed on August 17, 2026, Marjanovic was presented as a major speaker at the event.
The release was supplied by Moon Media Affairs LLC and distributed through EIN Presswire.
It described Marjanovic as having “headlined” the Armor Within Expo alongside Ohio Attorney General Andy Wilson.
According to that publicity, Marjanovic’s keynote was scheduled for 12:30 p.m., with Wilson following at 1 p.m.
The release also stated that the event involved the Ohio Department of Public Safety and two local police departments as partners.
This makes the optics considerably different from a casual photograph.
According to the publicity, a former police officer and wellness entrepreneur was delivering a keynote immediately before Ohio’s Attorney General at an event aimed at the law-enforcement community.
Marjanovic then publicly promoted his interaction with Wilson.
He wrote:
“Today at the Armor Within Expo I got to sit down with @ohioattorneygeneral Andy Wilson, the states top cop.”
He described their discussion in terms of proactive wellness for law enforcement and connected the conversation to his experience in policing and his later wellness career.
The distinction between publicity and independent reporting should also be maintained.
The August 17 release was supplied by Moon Media Affairs rather than independently reported by EIN Presswire.
Moon Media describes itself as working in areas including strategic communications, media relations, brand positioning and reputation management.
That does not invalidate the information in the release.
It simply provides context for how the event was publicly presented.
The Andy Wilson Question
The involvement of Ohio Attorney General Andy Wilson requires particular care.
I have not seen evidence demonstrating that Wilson knew about Marjanovic’s relationship with Christopher Delgado or Goliath Ventures.
I have not seen evidence showing that Wilson had received my warning to Armor Within.
And appearing alongside Marjanovic does not establish that Wilson endorsed his business activities.
Those points should not be blurred.
The question is narrower:
What did Wilson or his staff know about Marjanovic’s background at the time of the Armor Within appearance?
That is a question that can be answered through records and statements.
It should not be answered through speculation.
The same standard applies to Marjanovic.
A transaction does not automatically establish criminal conduct.
A bankruptcy discovery request does not establish liability.
An association with Delgado does not establish participation in Delgado’s crimes.
But when multiple independent pieces of evidence converge — public associations, financial transactions and formal requests for financial records — the underlying questions deserve examination.
What the Evidence Leaves Unanswered
The evidence reviewed so far leaves several significant questions.
First, what exactly was the relationship between Marjanovic and Goliath Ventures?
The Coinbase analysis identifies approximately $460,649 in USDC transferred to a Goliath-associated address.
One transaction was labelled:
“GV EXEC PARTNER CONTRIBUTION.”
The meaning of that notation remains to be established.
Second, who controlled the external addresses that sent approximately $4.45 million in cryptocurrency into Marjanovic’s Coinbase account?
The current analysis does not establish their ownership.
Third, what communications existed between Marjanovic and Christopher Delgado?
The bankruptcy estate is seeking those records.
Fourth, what agreements or financial arrangements existed between Marjanovic and Goliath?
Again, the bankruptcy discovery requests specifically seek such information.
Fifth, did Marjanovic promote Goliath or introduce investors to the company?
That is one of the questions I raised with him in September 2025.
Sixth, what evidence was he shown to support the investment representations being made?
And finally, what due diligence did Armor Within conduct after receiving my June 27 warning?
These questions are not conclusions.
They are the remaining gaps in the evidence.
What Tomo Marjanovic Can Still Explain
Marjanovic is in a position to answer many of these questions.
What was your relationship with Christopher Delgado?
What was your relationship with Goliath Ventures?
What did “GV EXEC PARTNER CONTRIBUTION” mean?
Why did approximately $460,649 in USDC move from the Coinbase account attributed to you to the Goliath-associated address?
Who controlled the addresses that sent approximately $4.45 million in cryptocurrency into your account?
Did you promote Goliath to other individuals?
Did you receive distributions?
What documentation were you shown to support the claims being made to investors?
And what records have you provided in response to the bankruptcy estate’s Rule 2004 requests?
These questions should be answered with documentation wherever possible.
If there is a legitimate explanation, records can establish it.
If there is another explanation, records can establish that too.
The investigation should not rely on assumptions.
The Larger Issue
The central issue is not that Tomo Marjanovic appeared beside Ohio Attorney General Andy Wilson.
Nor is it that Marjanovic once appeared in photographs with Christopher Delgado.
Nor is it simply that he described himself as a mentor within Andrew Tate’s War Room.
The significance comes from the timeline.
Marjanovic was publicly connected with people surrounding Goliath.
I asked him about his relationship with the company while it was still operating.
Goliath subsequently collapsed.
Delgado pleaded guilty.
Regulators alleged hundreds of millions of dollars had been raised.
Financial analysis later identified approximately $460,649 in USDC moving from an account attributed to Marjanovic to a Goliath-associated address.
A transaction within that amount carried the notation “GV EXEC PARTNER CONTRIBUTION.”
The same analysis identified approximately $4.45 million entering the account from two external addresses whose ownership remains unresolved.
Then the Goliath bankruptcy estate sought Marjanovic’s communications, cryptocurrency histories, financial records and transaction documentation.
And after all of that, Marjanovic appeared as a keynote speaker at a law-enforcement wellness event alongside Ohio’s Attorney General.
That sequence does not prove wrongdoing.
But it does make the unanswered questions more important.
The public deserves to know what happened.
Marjanovic deserves the opportunity to explain his side.
Armor Within deserves an opportunity to explain its due-diligence process.
And the Attorney General’s office can clarify what, if anything, it knew about the background surrounding Marjanovic.
The strongest conclusions will not come from photographs or reputation.
They will come from documents.
Follow the money. Follow the records. Then let the evidence speak.
Disclaimer: Methodology and Sources
This investigation was conducted using OSINT — Open Source Intelligence and publicly accessible documentary evidence.
The research relied on publicly available court records, archived webpages, corporate filings, social-media material, domain information and open blockchain transactions.
No hacking, unauthorised access or unlawful acquisition of private information was used.
Confidential information received during the investigation was treated as an investigative lead rather than automatically presented as fact. Where possible, leads were independently tested against court records, blockchain data and other documentary evidence.
Blockchain transactions should also be interpreted carefully. The existence of a transaction does not, by itself, establish ownership, purpose, intent or criminal conduct.
Likewise, a Rule 2004 discovery request does not establish that its recipient committed wrongdoing.
The purpose of this investigation is to document what can be established, identify what remains unknown and provide the relevant parties with an opportunity to respond.
