Tomo Marjanovic recently shared a video from the Armor Within Expo showing him alongside Ohio Attorney General Andy Wilson.
“Today at the Armor Within Expo I got to sit down with @ohioattorneygeneral Andy Wilson, the states top cop,” Marjanovic wrote, describing a conversation about wellness and the challenges facing members of law enforcement.
On the surface, the appearance is unremarkable. Marjanovic is a former police officer who has built a second career around entrepreneurship, wellness and public speaking. But there is another part of his recent history that deserves examination.
For nearly a year, I have been investigating Marjanovic’s documented connections to Christopher Delgado and Goliath Ventures. During that investigation, I contacted Marjanovic directly and asked him to explain the nature of his relationship with Delgado and the investment operation.
That outreach occurred on September 16, 2025.
At the time, I asked whether Marjanovic had invested in Goliath Ventures, whether he had received money from the operation, whether he had promoted it or introduced other investors, and whether he had ever been provided with independent evidence supporting the claims being made to investors.
Those questions arose from information I had already documented publicly.
Marjanovic had associated himself with Delgado and Goliath. He had also publicly described himself as one of 33 mentors within Andrew Tate’s War Room and appeared at a yacht gathering where Delgado and Mike Chmielewski were also present.
Since then, the circumstances surrounding Goliath have changed dramatically.
Delgado pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering. Federal regulators have separately alleged that hundreds of millions of dollars were raised through Goliath Ventures. The Commodity Futures Trading Commission has alleged that at least $397 million was obtained from customers, while the Securities and Exchange Commission has alleged that at least $425 million was raised from more than 1,300 investors.
Marjanovic, however, has continued to maintain a public profile.
In 2026, he appeared at Armor Within, a wellness event aimed at the law-enforcement and first-responder community. He later publicized his meeting with Ohio’s Attorney General.
What makes that appearance noteworthy is what happened before it.
Armor Within Was Warned
On June 27, 2026, I contacted the Armor Within organization.
I explained that I was investigating Goliath Ventures and Christopher Delgado. I informed the organization about Delgado’s guilty plea and specifically raised Marjanovic’s documented association with Goliath.
I encouraged Armor Within to conduct its own due diligence and offered to provide supporting documentation.
The purpose was not to demand that the organization cancel an appearance or accept my conclusions without investigation.
It was a warning that there were unresolved questions surrounding one of the people being given a platform at an event connected to law enforcement.
Armor Within proceeded with Marjanovic.
Several weeks later, publicity surrounding the event presented him in an even more prominent role.
A press release distributed through EIN Presswire on August 17, 2026, by Florida public-relations company Moon Media Affairs LLC described Marjanovic as having headlined the Armor Within Expo alongside Ohio Attorney General Andy Wilson.
According to that release, Marjanovic delivered the 12:30 p.m. keynote, followed by Wilson at 1 p.m. The release also stated that the event was conducted with the Ohio Department of Public Safety and two local police departments as partners.
The publicity therefore presented Marjanovic not merely as an attendee, but as a featured speaker immediately preceding Ohio’s Attorney General at an event focused on law-enforcement wellness.
The press release was promotional material rather than an independently reported news story. Moon Media Affairs identified itself as a public-relations agency specializing in strategic communications, brand positioning, media relations and reputation management.
That distinction is important when evaluating the claims made in the release.
Marjanovic himself subsequently promoted the encounter with Wilson, emphasizing their discussion about proactive wellness in law enforcement and connecting the subject to his own experience as a former officer.
Again, none of this establishes misconduct by Marjanovic, and there is no evidence presented here that Attorney General Wilson knew about Marjanovic’s relationship with Goliath.
But it creates a reasonable question:
What due diligence was conducted before Marjanovic was placed in that position?
That question becomes more significant when viewed alongside financial records and ongoing bankruptcy proceedings involving Goliath Ventures.
The Financial Trail
My investigation subsequently moved beyond photographs, social-media posts and professional associations.
I reviewed an analysis of cryptocurrency transaction data associated with a Coinbase account attributed to Tomo Marjanovic.
The analysis identifies approximately $4.45 million in cryptocurrency entering the account from two principal external addresses during the period examined.
Approximately $298,140 came from one address, while approximately $4.137 million came from another.
But there is an important limitation.
The available analysis does not establish who controlled those two addresses.
I therefore cannot responsibly characterize those incoming funds as Goliath money without additional evidence.
That question remains open.
There is, however, a separate transaction trail that can be connected directly to an address identified as belonging to Goliath Ventures.
According to the transaction analysis, approximately $460,649 in USDC was transferred from the Coinbase account attributed to Marjanovic to that Goliath-associated address.
One transaction is particularly notable.
On September 13, 2024, approximately $16,992.48 in USDC was transferred to the Goliath address.
The transaction record contains the notation:
“GV EXEC PARTNER CONTRIBUTION.”
That notation does not, by itself, prove criminal conduct.
It does, however, raise obvious questions about what relationship the term “executive partner” described and why the payment was made.
Was it an investment?
Was it a contribution connected to a business arrangement?
Did Marjanovic have an executive or partnership role involving Goliath?
What agreement governed the payment?
And who entered the notation?
Those questions cannot be answered simply by looking at the blockchain transaction itself.
The transaction does, however, establish something more concrete than a photograph or social-media association: according to the records reviewed, cryptocurrency moved from the Coinbase account attributed to Marjanovic to an address identified as belonging to Goliath Ventures.
The same analysis also indicates that USDC was periodically converted into cash, with subsequent transfers into Marjanovic’s personal bank accounts.
Other cryptocurrency transactions involved external addresses whose owners have not been established.
Those transactions require context before conclusions can responsibly be drawn.
The Bankruptcy Proceedings Add Another Layer
The financial records become particularly interesting when compared with documents filed in the Goliath Ventures bankruptcy proceedings.
The Goliath bankruptcy estate has sought records from Tomislav “Tomo” Marjanovic through Rule 2004 discovery.
The first notice was filed in May 2026.
An amended notice followed in June.
A Second Amended Notice was filed on August 20, 2026, establishing a new production date of September 18.
There is an important distinction here.
These requests were made by bankruptcy counsel for the Goliath debtors. They should not be described as a Department of Justice subpoena simply because federal agencies or officials appear on the electronic notice distribution.
The relevant requests are nevertheless extensive.
Among other things, the August filing seeks documents concerning Goliath Ventures, including agreements, contracts, correspondence, financial records and corporate records.
It also seeks communications between Marjanovic and Goliath, as well as communications between Marjanovic and Christopher Alexander Delgado.
The requests specifically address cryptocurrency.
They seek records associated with digital-asset accounts held by Marjanovic, including account-opening documents, statements and transaction histories.
The definition of digital assets in the request is broad and includes cryptocurrencies, virtual currencies, digital tokens, stablecoins and related instruments.
Another request seeks records reflecting transfers between Marjanovic and Delgado, Goliath, or Goliath’s officers, principals and affiliates.
That request encompasses financial transfers as well as blockchain records and transaction documentation.
The relevant period begins January 1, 2019 and extends through compliance with the request.
That is significant because the requested records potentially cover precisely the categories of information that could explain the cryptocurrency activity I have independently identified.
The blockchain records show approximately $460,649 in USDC moving from the Coinbase account attributed to Marjanovic to the Goliath-associated address.
The bankruptcy estate is seeking the broader documentary record that could potentially explain those transfers.
That includes communications.
It includes cryptocurrency account histories.
It includes bank and brokerage records.
And it includes records concerning financial transfers involving Delgado and Goliath.
A Rule 2004 request should not be treated as a finding that a person committed a crime. Bankruptcy proceedings routinely use this mechanism to investigate the debtor’s financial affairs and recover information.
Nor do the filings reviewed here establish that Marjanovic refused to cooperate.
The three notices alone do not prove noncompliance, and the most recent filing indicates that the amendment concerned the witness address and production date.
The important point is narrower:
The Goliath bankruptcy estate is seeking records capable of establishing the nature and extent of Marjanovic’s financial and communications relationship with Delgado and Goliath.
Before Goliath: The War Room Connection
The financial questions cannot be separated entirely from Marjanovic’s earlier public associations.
Before Goliath became the subject of federal criminal and civil proceedings, Marjanovic had established himself within Andrew Tate’s War Room network.
Marjanovic publicly described himself as one of the organization’s 33 mentors.
His promotional material presented him as someone who could provide guidance on business, health optimization and what he characterized as brotherhood.
Christopher Delgado was operating within the same broader network.
I reviewed footage from a yacht gathering associated with the War Room where Marjanovic appeared alongside Delgado and Mike Chmielewski.
The relationship also appeared in other public settings.
On October 30, 2024, Marjanovic posted photographs from Yankee Stadium during Game 5 of the World Series.
Among the people pictured was Christopher Delgado.
Marjanovic’s caption referred to the people accompanying him as his “brothers” and tagged Delgado’s account.
None of these interactions proves financial wrongdoing.
People meet through professional networks. They attend events together. They travel together. They take photographs.
Association alone is not evidence of criminal participation.
But the relationships become relevant when examining how Goliath presented itself to prospective investors.
Investment operations often depend heavily on trust.
A potential investor may not understand cryptocurrency markets, trading strategies, liquidity arrangements or the mechanics supposedly generating investment returns.
What they can understand is reputation.
They see successful entrepreneurs around a founder.
They see exclusive events.
They see expensive lifestyles.
They see people with impressive résumés endorsing or associating with the operation.
Those signals can become a form of social proof.
Marjanovic brought another credibility factor to that environment: his background in law enforcement.
According to his own public biography, he entered the police academy in 2007 and remained in law enforcement until 2018.
He subsequently moved into entrepreneurship and wellness.
There is nothing inherently improper about that career transition.
The issue is not that Marjanovic was a former police officer, entrepreneur or member of the War Room.
The issue is what happened when his relationships with these various networks intersected with Goliath Ventures.
The Questions I Asked in 2025
By September 2025, I wanted answers that went beyond social connections.
I contacted Marjanovic while I was investigating Delgado and Goliath and asked him directly about his relationship with the operation.
I asked whether he had personally invested.
I asked how much he had invested and when.
I asked what terms had been offered to him, including whether representations had been made concerning monthly returns, principal protection or insurance.
I asked whether he had received distributions.
I asked how much money he had received and how frequently payments were made.
I also asked what explanation he had been given for the source of those returns.
Perhaps most importantly, I asked whether he had promoted Goliath or introduced other people to the operation.
I wanted to know whether he had promoted it publicly, discussed it at events or privately referred potential investors.
I also asked what documentation he had reviewed before making any such representations.
Had he seen independent audits?
Had he seen custodian records?
Had he received verifiable blockchain evidence demonstrating that the underlying investment activity was actually occurring as represented?
These questions were sent in September 2025, before Goliath’s collapse and before Delgado pleaded guilty.
Marjanovic was given an opportunity to respond and was told that I was willing to consider his answers for publication, including appropriate off-the-record treatment where applicable.
The purpose was straightforward.
If there was an innocent or legitimate explanation for his relationship with Delgado and Goliath, I wanted to hear it.
The subsequent collapse of Goliath made those questions more consequential.
Investors stopped receiving expected payments.
Federal authorities pursued Delgado.
He ultimately pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering.
The SEC and CFTC then brought separate civil enforcement actions alleging that hundreds of millions of dollars had been raised from investors.
Questions about who promoted Goliath, who financially interacted with the operation and what investors were told therefore became part of a much larger investigation.
Nearly $10 Million in Goliath-Linked Wallets
The investigation has also expanded beyond Marjanovic.
The Avengers Anti-Fraud Alliance has identified nearly $10 million in cryptocurrency currently held in wallets that were part of the network used to distribute funds to Goliath investors while the operation was active.
That figure should not be confused with the total amount of cryptocurrency that passed through those addresses.
The transaction volume associated with the network is substantially larger.
The approximately $10 million figure refers to cryptocurrency currently identified in wallets that formed part of the distribution network.
The continuing blockchain analysis is intended to establish how those funds moved, which addresses interacted with them and whether additional assets can be traced.
That work is particularly important because blockchain records can establish transactions but do not automatically identify the people controlling every address.
An address receiving cryptocurrency from another address does not, without additional evidence, prove who owns either wallet.
That is why I have avoided making unsupported claims about the approximately $4.45 million that entered Marjanovic’s Coinbase account.
The identity of the senders remains a material question.
What Armor Within Needs to Answer
The most immediate institutional questions concern Armor Within.
The organization received my warning on June 27, 2026.
At that point, I had explained that I was investigating Goliath Ventures and Christopher Delgado, told them about Delgado’s guilty plea, described Marjanovic’s documented association with Goliath and offered supporting evidence.
The event proceeded.
Marjanovic was subsequently promoted as a keynote speaker and later publicized his interaction with Ohio Attorney General Andy Wilson.
That creates several straightforward questions.
What due diligence did Armor Within conduct after receiving my warning?
Did organizers independently examine Marjanovic’s relationship with Goliath?
Did they ask him about Christopher Delgado?
Did they request the documentation I offered?
Did they review the federal proceedings?
Did anyone consider whether law-enforcement participants should be informed about the unresolved questions surrounding a featured speaker and sponsor?
Those questions are especially relevant because of the event’s audience.
Armor Within was not simply another business conference.
Its branding and publicity positioned it within the law-enforcement and first-responder community.
Marjanovic’s history as a former police officer formed an important part of his public identity.
And his appearance alongside the state’s Attorney General inevitably created an association with law enforcement that could carry substantial reputational weight.
That does not mean Wilson endorsed Marjanovic’s financial activities.
There is no evidence presented here establishing that Wilson knew about Marjanovic’s relationship with Goliath.
There is also no evidence that Wilson had seen the warning sent to Armor Within.
Those distinctions matter.
The concern is not that an Attorney General stood beside someone at a public event.
The concern is whether the organizers conducted adequate due diligence before putting that person in a prominent position within a law-enforcement-oriented setting.
What Does “GV EXEC PARTNER CONTRIBUTION” Mean?
The cryptocurrency records create another set of questions that Marjanovic is uniquely positioned to answer.
The approximately $460,649 transferred from the Coinbase account attributed to him to the Goliath-associated address needs context.
What was the money for?
Was it an investment?
Was it a capital contribution?
Was it connected to an executive-partner agreement?
What did “GV EXEC PARTNER CONTRIBUTION” mean?
Was there a written agreement?
Did Marjanovic hold a formal or informal position with Goliath?
Did Christopher Delgado direct or authorize the payments?
Were other transactions between Marjanovic and Goliath conducted through different accounts or wallets?
And did Marjanovic ever receive distributions or other financial benefits from the operation?
Those are factual questions.
They should be answered with records rather than assumptions.
The same principle applies to the approximately $4.45 million entering Marjanovic’s Coinbase account.
The available transaction analysis identifies the transfers.
It does not establish the identity of the senders.
That means the appropriate question is not, “Was this Goliath money?”
The appropriate question is:
Who sent it, why was it sent, and was any portion connected to Goliath, Delgado or related businesses?
That distinction is essential to responsible reporting.
The Attorney General Question
There is one question involving Ohio Attorney General Andy Wilson that is considerably narrower.
At present, I have seen no evidence demonstrating that Wilson knew about Marjanovic’s relationship with Delgado or Goliath.
I have seen no evidence establishing that Wilson knew about the bankruptcy proceedings.
I have no evidence that Wilson saw the warning I sent to Armor Within.
Therefore, I am not suggesting that Wilson endorsed, approved or knowingly participated in anything involving Goliath.
The question is simply whether Wilson or his staff were aware of Marjanovic’s background with Goliath when the two appeared together at Armor Within.
That is a question that can be answered by the Attorney General’s office.
What Tomo Marjanovic Still Needs to Explain
The available evidence does not answer every question.
But it has narrowed the field considerably.
There is documentary evidence of a Coinbase account attributed to Marjanovic sending approximately $460,649 in USDC to an address identified as belonging to Goliath Ventures.
One transaction, dated September 13, 2024, involved approximately $16,992.48 and contained the notation “GV EXEC PARTNER CONTRIBUTION.”
There is also an analysis identifying approximately $4.45 million in cryptocurrency entering the account from two principal external addresses, although the available evidence does not establish who controlled those addresses.
Separately, the Goliath bankruptcy estate has sought Marjanovic’s communications, cryptocurrency records, banking information and records concerning financial transfers involving Delgado, Goliath and its principals or affiliates.
Those facts do not prove that Marjanovic committed a crime.
They do establish a series of questions that deserve answers.
What was the nature of his relationship with Christopher Delgado?
What was his relationship with Goliath Ventures?
What did the “executive partner contribution” notation refer to?
Why was approximately $460,649 transferred from his Coinbase account to the Goliath-associated address?
Who controlled the wallets that sent approximately $4.45 million into his account?
Did any of those funds originate from Goliath or entities connected to Delgado?
Did Marjanovic promote Goliath to other people?
If he did, what information had he been given before doing so?
Did he receive investor distributions?
And what evidence did he personally review concerning Goliath’s representations about returns, assets, custody and investment activity?
These are not questions that can be answered through photographs.
They cannot be answered by pointing to someone’s reputation.
And they should not be answered by assuming that every cryptocurrency transaction represents wrongdoing.
They require documentation.
That is particularly true now that the Goliath bankruptcy estate itself is seeking many of the same records necessary to reconstruct the relationship.
The Bigger Issue
The central issue is not the photograph of Tomo Marjanovic standing next to Ohio’s Attorney General.
It is what that photograph represents in the context of everything that came before it.
Marjanovic had established public relationships with people in the same networks as Christopher Delgado.
He publicly identified himself as a War Room mentor.
He appeared with Delgado at social and networking events.
He was publicly associated with Goliath during the period when the company was attracting investors.
In September 2025, I asked him directly about his financial relationship with Goliath, any money he received, whether he promoted the operation and what evidence he had seen supporting its claims.
In 2026, federal proceedings involving Goliath escalated.
Delgado pleaded guilty.
The bankruptcy estate began seeking Marjanovic’s records.
And transaction data I reviewed documented hundreds of thousands of dollars in USDC moving from an account attributed to Marjanovic to an address identified as belonging to Goliath.
At almost the same time, Marjanovic was returning to the law-enforcement community as a featured speaker at Armor Within and publicly highlighting his meeting with Ohio Attorney General Andy Wilson.
That sequence of events is why the questions matter.
Not because standing beside an Attorney General proves anything.
Not because association with Delgado automatically makes someone responsible for Delgado’s crimes.
And not because every unexplained cryptocurrency transaction is evidence of misconduct.
The issue is whether the complete financial and documentary record will explain the relationship between Marjanovic, Delgado and Goliath Ventures.
The bankruptcy proceedings may provide part of that answer.
Blockchain analysis may provide another.
And Marjanovic himself can provide the most important context of all.
The Questions Now on the Record
I am therefore asking Marjanovic to address the following:
1. What was the full nature of your financial relationship with Christopher Delgado and Goliath Ventures?
2. What was the approximately $460,649 in USDC transferred from your Coinbase account to the Goliath-associated address for?
3. What did the September 13, 2024 notation “GV EXEC PARTNER CONTRIBUTION” mean?
4. Did you have an executive, partnership, investment or other formal relationship with Goliath?
5. Who controlled the external addresses responsible for approximately $4.45 million entering your Coinbase account?
6. Was any portion of those incoming funds connected to Goliath, Delgado or affiliated businesses?
7. Did you promote Goliath or introduce prospective investors to the operation?
8. If so, what representations did you make and what documentation had you reviewed before making them?
9. Did you receive distributions or other payments from Goliath?
10. Have you complied with the Rule 2004 requests issued in the Goliath bankruptcy proceedings, and is there additional context concerning those requests that the public should know?
Marjanovic may have legitimate explanations for these transactions and relationships.
If he does, he should have the opportunity to provide them.
The same applies to Armor Within.
The organization can explain what due diligence it conducted after receiving my June 27 warning and why it decided to proceed with Marjanovic as a featured speaker and sponsor.
And the Ohio Attorney General’s office can clarify whether Wilson or his staff were aware of Marjanovic’s Goliath-related background when the two appeared together.
Those answers should be evaluated against the documentary record.
Because this investigation is no longer about social-media photographs or professional reputations.
There are now blockchain transactions.
There are bankruptcy filings.
There are federal criminal proceedings.
There are regulatory allegations involving hundreds of millions of dollars.
And there are specific questions about the movement of cryptocurrency between an account attributed to Marjanovic and an address identified as belonging to Goliath Ventures.
The responsible approach is neither to declare guilt nor to ignore the evidence.
It is to follow the records wherever they lead.
Reputations can create credibility. Records can establish what actually happened.
Methodology and Disclaimer
This investigation is based on open-source intelligence and publicly accessible evidence, including court filings, corporate records, archived webpages, publicly available social-media material, domain information and blockchain transactions.
No hacking, unauthorized account access or unlawful acquisition of private information was used in conducting the investigation.
Where financial intelligence or other confidential material has generated investigative leads, that material has not been published or used as proof of a claim without independent corroboration.
Blockchain addresses are not automatically synonymous with identifiable individuals or companies. Where ownership has not been independently established, the relevant address is described accordingly rather than attributed to a person without supporting evidence.
Likewise, the existence of a bankruptcy Rule 2004 request does not establish criminal conduct, and the existence of cryptocurrency transfers does not by itself establish wrongdoing.
Claims concerning Goliath Ventures and Christopher Delgado are described according to the relevant criminal proceedings, regulatory allegations and court records.
The purpose of this investigation is to identify documented facts, distinguish them from allegations and unanswered questions, and provide the individuals and organizations involved an opportunity to respond.