Today at the Armor Within Expo I got to sit down with Ohio Attorney General Andy Wilson, the state’s top cop.”
Those were Tomo Marjanovic’s words accompanying a video showing him alongside Ohio Attorney General Andy Wilson after Tomo appeared at the Armor Within Expo, an event focused on wellness within the law-enforcement and first-responder community.
At first glance, the encounter appears unremarkable. A former police officer turned entrepreneur and wellness speaker meets with the state’s Attorney General at a professional event.
But there is considerably more to the story.
I first contacted Marjanovic on September 16, 2025, while investigating Christopher Delgado and Goliath Ventures Inc. At the time, I wanted answers about Marjanovic’s relationship with the company and its founder.
I asked whether he had invested in Goliath, whether he had received any distributions, whether he had promoted the business or referred other individuals to it, and whether he had been provided with independent audits, custodian documentation or verifiable blockchain evidence supporting the claims being made to investors.
Those questions were based on publicly documented connections between Marjanovic, Delgado and Goliath Ventures.
Marjanovic had also publicly positioned himself within Andrew Tate’s War Room, describing himself as one of the organisation’s 33 mentors. He appeared in footage from a yacht gathering where Delgado and Mike Chmielewski were also present.
Since those questions were first raised, the Goliath Ventures story has changed dramatically.
Christopher Delgado has pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering. Regulators have also alleged that Goliath 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.
Marjanovic, however, remained publicly active.
In 2026, he appeared at Armor Within, returning to the law-enforcement community as a speaker and later publishing footage of himself with Ohio Attorney General Andy Wilson.
There is another part of that story that deserves attention.
Armor Within Had Been Warned
Before Marjanovic appeared on the Armor Within stage, I contacted the organisers.
On June 27, 2026, I wrote to the Armor Within team and explained that I had been investigating Goliath Ventures and Christopher Delgado. I informed them about Delgado’s guilty plea and specifically raised the publicly documented connections I had identified between Marjanovic and Goliath.
I encouraged the organisers to conduct their own due diligence and offered to provide supporting documentation.
They proceeded with Marjanovic’s appearance.
At the same time, bankruptcy proceedings involving Goliath Ventures were generating another trail.
Federal bankruptcy court records show that the Goliath Ventures estate sought information from Tomislav “Tomo” Marjanovic through Rule 2004 discovery. A notice was filed in May 2026, followed by an amended notice in June and another amended notice on August 20, 2026.
The requests were not limited to biographical information.
They sought records concerning communications between Marjanovic and Christopher Delgado, communications involving Goliath Ventures, cryptocurrency accounts and transaction histories, bank and brokerage records, and documentation concerning transfers between Marjanovic and Delgado, Goliath or people connected with the company.
On its own, Marjanovic appearing with an Attorney General does not establish anything improper. He is a former police officer who later became an entrepreneur, speaker and wellness advocate.
But I had already spent months investigating his documented relationship with Delgado and Goliath.
That context makes the encounter worth examining more closely.
The Financial Trail
My investigation subsequently turned toward transaction records.
I reviewed an Analysis of Transaction Data associated with Tomo Marjanovic’s Coinbase account. According to that analysis, approximately $460,649 in USDC was transferred from the account to a blockchain address identified as belonging to Goliath Ventures.
One transaction stands out.
On September 13, 2024, approximately $16,992 in USDC was sent to the identified Goliath address. The accompanying transaction notation reads:
“GV EXEC PARTNER CONTRIBUTION.”
The same analysis identified approximately $4.45 million in cryptocurrency entering Marjanovic’s Coinbase account from two primary external addresses during the period reviewed.
I do not know who controlled those addresses.
I therefore am not characterising those incoming funds as Goliath funds without additional evidence. Determining the identity and purpose of those transfers is one of the outstanding questions.
Separately, the Avengers Anti-Fraud Alliance has identified close to $10 million in cryptocurrency currently held in wallets associated with a network that was used to distribute funds to Goliath investors while the operation was active.
That figure represents assets currently identified in those wallets. It does not represent the entire amount that passed through them.
I have also received confidential financial intelligence concerning Marjanovic. I am not publishing that material or information that could identify its source.
Where such intelligence generates investigative leads, I seek to establish those leads independently through blockchain records, court documents and other verifiable material before drawing conclusions.
There is also an important distinction regarding Ohio Attorney General Andy Wilson.
I have not seen evidence establishing that Wilson knew about Marjanovic’s relationship with Goliath Ventures. Nor does a photograph or meeting between Wilson and Marjanovic demonstrate that Wilson endorsed Marjanovic’s financial activities.
The issue is not the photograph itself.
The issue is what was happening before that photograph was taken.
The records I reviewed indicate hundreds of thousands of dollars in USDC moving from an account attributed to Marjanovic to an address identified as belonging to Goliath, while millions more in cryptocurrency entered that account from addresses whose ownership remains unresolved.
Meanwhile, the Goliath bankruptcy proceedings were seeking Marjanovic’s communications, cryptocurrency records, financial-account information and records of transactions involving Delgado and Goliath.
That led me back to the beginning.
From Andrew Tate’s War Room to Goliath Ventures
Before Marjanovic appeared at a law-enforcement wellness event, he had established himself in another business and social network.
Marjanovic has publicly described himself as one of 33 mentors in Andrew Tate’s War Room, a private network promoted around business, entrepreneurship, personal development and what its members describe as brotherhood.
His own promotional material presented him as more than an ordinary participant. He was identified as a mentor and discussed subjects including business, health optimisation and personal development.
The connection became particularly relevant to my Goliath investigation because Christopher Delgado also appeared within overlapping circles.
I reviewed footage from a yacht gathering associated with the War Room in which Marjanovic appeared alongside Delgado and Mike Chmielewski.
The relationship was not limited to that footage.
On October 30, 2024, Marjanovic posted photographs from Yankee Stadium during Game 5 of the World Series. Christopher Delgado, Patrick Bet-David and others appeared in the photographs.
Marjanovic referred to the people around him as his “brothers” and directly tagged Delgado.
None of these associations, by themselves, establish financial misconduct.
People frequently meet through business networks, attend events together and maintain friendships or professional relationships.
The significance here is the broader context in which those relationships existed.
Goliath Ventures was seeking investors while building credibility around its leadership, network and representations about investment performance.
For prospective investors, credibility can be enormously influential.
An ordinary person may not understand cryptocurrency trading strategies, liquidity management or the mechanics behind an investment operation. But they can recognise successful entrepreneurs, wealthy individuals, exclusive events and people presented as trusted insiders.
Those associations can create social proof.
Marjanovic also brought another element of credibility into that environment: his background in law enforcement.
According to his public biography, Marjanovic entered the police academy in 2007 and remained in law enforcement until 2018. He has subsequently incorporated that experience into his identity as an entrepreneur and wellness professional.
There is nothing inherently improper about leaving law enforcement, becoming an entrepreneur or participating in a private business network.
The question is what happened when those different worlds intersected.
By September 2025, I was no longer interested merely in who Marjanovic knew.
I wanted to determine what his actual relationship with Delgado and Goliath had been.
And, importantly, whether there was a financial relationship behind the public associations.
The Questions I Asked in September 2025
I contacted Marjanovic on September 16, 2025, while Goliath Ventures was still operating.
I explained that I was investigating Christopher Delgado and Goliath Ventures Inc. I wanted Marjanovic to explain his relationship with the company directly rather than relying solely on public photographs, social-media posts or third-party information.
I asked whether he had personally invested with Goliath Ventures or an affiliated entity.
I asked how much he had invested, when he had invested and what terms he had been offered.
I also asked about representations concerning 3–4% monthly returns, principal guarantees and insurance, because those claims were relevant to the wider investigation.
Then I asked about distributions.
Had Marjanovic received money from Goliath?
If so, how much?
How frequently?
What had he been told about the source of those returns?
And had he been given independent documentation supporting those explanations?
There was another important question.
Did Marjanovic promote Goliath to other people?
I asked whether he had promoted the company through social media, events or private introductions, and what information or disclosures he had received before making such representations.
I also asked whether he had seen independent audits, custodian documentation or verifiable blockchain evidence confirming that the investment activity being described to investors was actually taking place.
These were not questions developed after the collapse of Goliath.
They were being asked in September 2025, while the operation was still active.
I gave Marjanovic an opportunity to respond and indicated that I was willing to consider information provided on or off the record where appropriate.
The objective was straightforward.
If there was a legitimate explanation for his relationship with Delgado and Goliath, I wanted to hear it from him.
Events that followed made those questions considerably more important.
Goliath stopped paying investors.
Federal authorities became involved.
Christopher Delgado was charged and ultimately pleaded guilty to conspiracy to commit wire fraud, wire fraud and money laundering.
Civil enforcement actions followed. The SEC alleged that Goliath raised at least $425 million from more than 1,300 investors, while the CFTC alleged that at least $397 million was obtained from approximately 1,600 customers.
Questions about who promoted Goliath, who received funds and how the money moved were no longer simply matters of journalistic inquiry.
They had entered the federal legal process.
Following the Cryptocurrency
After Goliath collapsed, I shifted the focus of the investigation.
Photographs and social-media connections could establish relationships, but financial records could potentially establish transactions.
The Coinbase analysis attributed to Marjanovic documents substantial cryptocurrency activity involving external blockchain addresses.
During the period examined, approximately $4.45 million in cryptocurrency entered the Coinbase account from external addresses.
Two addresses accounted for most of that amount.
Approximately $298,140 came from one address, while approximately $4.137 million came from another.
The analysis indicates that the second address appeared to replace the first.
But again, there is an important limitation.
The records do not establish who controlled those addresses.
I therefore cannot responsibly describe those incoming funds as Goliath money merely because they entered Marjanovic’s account.
That determination requires additional evidence.
The outgoing transactions are different.
One external address identified in the analysis can be connected to Goliath Ventures.
That same address is also referenced, in truncated form, among cryptocurrency assets subject to forfeiture in Christopher Delgado’s June 23, 2026 plea agreement.
The transaction analysis records multiple USDC transfers from the Coinbase account attributed to Marjanovic to that Goliath-associated address.
The combined amount is approximately $460,649.
One of the transactions occurred on September 13, 2024, when approximately $16,992.48 in USDC was transferred.
The accompanying notation reads:
“GV EXEC PARTNER CONTRIBUTION.”
That notation is significant because it provides a description attached to the transaction itself.
It does not require me to identify an unknown blockchain wallet as belonging personally to Marjanovic.
The evidence I reviewed instead concerns an account attributed to him sending funds directly to an address identified as belonging to Goliath Ventures.
The Coinbase analysis also describes USDC being converted to cash, followed by withdrawals and transfers to accounts identified as Marjanovic’s personal bank accounts.
Other cryptocurrency transactions went to external addresses whose owners have not been established.
None of these transactions, standing alone, proves criminal conduct.
A financial contribution to a company does not automatically make someone responsible for crimes committed by that company’s founder.
The purpose of following the money is different.
It is to establish what the financial relationship was.
Why Does the Goliath Bankruptcy Estate Want Tomo’s Records?
Once I had examined the Coinbase transaction analysis, I looked more closely at the Goliath bankruptcy proceedings.
That is where another important connection emerged.
On May 14, 2026, Goliath Ventures, through bankruptcy counsel, filed a Rule 2004 notice seeking records from Marjanovic.
An amended notice followed on June 17.
Then, on August 20, 2026, a Second Amended Notice was filed setting a new document-production date of September 18.
It is important to accurately identify the source of those requests.
This was not a Department of Justice subpoena issued directly to Marjanovic.
The subpoena was sought by Meland Budwick, P.A., counsel for the Goliath Ventures debtors, within the Chapter 11 bankruptcy proceedings.
Federal agencies and officials may appear on electronic service lists, but that should not be confused with those agencies having issued the subpoena.
What matters is what the bankruptcy estate is requesting.
The August request seeks documents concerning Goliath Ventures, including agreements, contracts, correspondence, financial information and corporate records.
It also seeks communications between Marjanovic and Goliath and, separately, communications between Marjanovic and Christopher Alexander Delgado.
The requests then turn specifically to digital assets.
They seek records concerning cryptocurrency and digital-asset accounts held by Marjanovic, including account-opening information, statements and transaction histories.
The definition used in the request encompasses cryptocurrencies, virtual currencies, tokens, stablecoins and related digital assets.
That immediately caught my attention because I had already reviewed the Coinbase analysis documenting approximately $460,649 in USDC transfers to the Goliath-associated address.
The subpoena also seeks banking and brokerage records.
Perhaps most significant is the request for documentation concerning transfers of funds or digital assets between Marjanovic and Delgado, Goliath, or Goliath officers, principals and affiliates.
The request specifically encompasses wire records, blockchain transactions and receipts and covers activity beginning January 1, 2019 through compliance.
That is the same type of information that could help establish the broader financial relationship.
There are three notices on the docket — May, June and August.
However, those filings do not establish that Marjanovic refused to comply or ignored the requests. I have not seen sufficient evidence to make such a claim.
The latest filing states that the amendment concerned the witness address and production date.
A Rule 2004 request is also not itself evidence that the person receiving it committed a crime. It is a bankruptcy discovery mechanism used to obtain information relevant to the debtor’s affairs.
But the breadth of the requests remains noteworthy.
I began asking Marjanovic about his relationship with Goliath in September 2025.
The financial records I reviewed now document transfers from an account attributed to him to a Goliath-associated address.
And the bankruptcy estate is seeking records that could potentially provide the wider context: communications, cryptocurrency histories, financial accounts and transfers involving Delgado and Goliath.
The blockchain provides one portion of the trail.
The bankruptcy discovery process is seeking another.
Armor Within Was Warned Before Marjanovic Appeared With Andy Wilson
By the time the Armor Within 2026 event approached, the circumstances surrounding Marjanovic had changed significantly.
Delgado had pleaded guilty.
Goliath Ventures had collapsed.
And questions concerning Marjanovic’s financial relationship with the company were becoming relevant to the bankruptcy proceedings.
On June 27, 2026, I contacted Armor Within.
I identified myself and explained the Goliath investigation. I informed the organisers about Delgado’s guilty plea and the documented associations I had identified involving Marjanovic and Goliath.
I encouraged them to perform their own due diligence before proceeding and offered to provide supporting documentation.
This was not a demand that Armor Within cancel the event.
It was a warning.
The organisers had information that I believed warranted examination.
They proceeded with Marjanovic as a speaker.
The event was connected to law enforcement, first responders, wellness and leadership. Marjanovic’s previous career as a police officer was central to the identity he brought to the event.
That background can carry significant credibility with a law-enforcement audience.
Yet the event went ahead.
And Marjanovic’s role appears to have been more substantial than simply attending.
On August 17, 2026, a press release supplied by Florida public-relations company Moon Media Affairs LLC was distributed through EIN Presswire.
The release described Marjanovic as having “headlined” the Armor Within Expo alongside Ohio Attorney General Andy Wilson.
According to the release, Marjanovic delivered the 12:30 p.m. keynote, followed by Wilson at 1 p.m.
The release also stated that the event was held with the Ohio Department of Public Safety and two local police departments as partners.
That distinction is important.
This was not simply a chance encounter at an expo.
According to the publicity distributed on Marjanovic’s behalf, he was the keynote speaker immediately before Ohio’s Attorney General at an event aimed at the law-enforcement community.
The release quoted Marjanovic discussing Wilson’s approach to first-responder wellness.
Marjanovic subsequently promoted the encounter himself.
He wrote:
He described their conversation as being focused on proactive wellness in law enforcement and connected the discussion to his own experience as a former police officer and his later work in wellness.
There is an important distinction concerning the press release.
It was not an independently reported news investigation by EIN Presswire. The release identified Moon Media Affairs LLC as its source. The agency describes its work in areas including strategic communications, brand positioning, media relations and reputation management.
The chronology is therefore worth noting.
I warned Armor Within on June 27.
The event subsequently took place.
Marjanovic then publicly highlighted his meeting with Ohio’s Attorney General.
The Public Image and the Unanswered Questions
The contrast is what makes this story worth investigating.
On one side is Marjanovic’s public image: former police officer, entrepreneur, wellness advocate, keynote speaker and someone appearing alongside Ohio’s Attorney General at a law-enforcement-focused event.
On the other side are the questions surrounding his relationship with Goliath Ventures.
There are the public associations with Christopher Delgado.
There is his publicly described role within Andrew Tate’s War Room.
There are photographs and videos placing Marjanovic in the same circles as Delgado and other people connected to the investigation.
And there are the financial records I reviewed documenting approximately $460,649 in USDC transferred from the Coinbase account attributed to Marjanovic to a Goliath-associated address.
One of those transactions carried the notation:
“GV EXEC PARTNER CONTRIBUTION.”
Then there are the bankruptcy proceedings.
The Goliath estate is seeking Marjanovic’s communications with Delgado and Goliath, cryptocurrency account histories, financial records and documentation concerning transfers involving Goliath and its principals or affiliates.
None of this establishes that Marjanovic participated in Delgado’s criminal conduct.
It also does not establish that Ohio Attorney General Andy Wilson knew about any of these issues.
There is no evidence before me demonstrating that Wilson was aware of Marjanovic’s relationship with Goliath when the two appeared together.
Nor have I seen evidence showing that Wilson received or reviewed my June 27 warning to Armor Within.
A photograph is not proof of an endorsement.
Appearing on the same event programme is not proof of an endorsement either.
But association with law enforcement can have significant reputational impact, especially when the association is subsequently used in professional publicity and personal branding.
That is why the questions should not be ignored.
What Tomo Marjanovic Still Needs to Explain
The financial records have changed the nature of the questions.
It is no longer necessary to speculate about whether a financial connection existed between an account attributed to Marjanovic and Goliath.
The transaction records I reviewed show approximately $460,649 in USDC moving from that Coinbase account to a Goliath-associated address.
One transaction — approximately $16,992 on September 13, 2024 — carries the description:
“GV EXEC PARTNER CONTRIBUTION.”
What remains unclear is precisely what that description meant.
Was the money an investment?
Was it connected to an executive-partner arrangement?
What agreement, if any, existed between Marjanovic and Goliath?
What did the term “executive partner” mean within Goliath?
And what role, if any, did Marjanovic have with the company?
There are also questions concerning the approximately $4.45 million in cryptocurrency received into the Coinbase account from external addresses.
Approximately $4.137 million came from one address between April 2024 and July 2025, while approximately $298,140 came from another address during the preceding period.
The available analysis does not identify the owners of those addresses.
That means I will not label those funds as Goliath funds without evidence establishing the connection.
But the obvious investigative questions remain:
Who controlled those addresses?
Why was that cryptocurrency being sent to Marjanovic’s account?
Were any of those transactions connected to Delgado, Goliath or related businesses?
The bankruptcy discovery process may provide some of those answers.
The requests seek cryptocurrency account records, bank and brokerage statements, communications with Delgado and documentation of transfers involving Goliath and its principals or affiliates.
There is also the broader cryptocurrency network identified by the Avengers Anti-Fraud Alliance, which has located nearly $10 million in cryptocurrency currently held in wallets associated with the distribution network used during Goliath’s operation.
That figure is a snapshot of cryptocurrency presently identified in those wallets, rather than a measure of the entire amount that moved through them.
The questions for Marjanovic are therefore straightforward.
What was your financial relationship with Christopher Delgado and Goliath Ventures?
What did “GV EXEC PARTNER CONTRIBUTION” mean?
Why was approximately $460,649 transferred from your Coinbase account to the identified Goliath address?
Who controlled the addresses from which approximately $4.45 million entered your account?
Did you promote Goliath to other people?
If so, what were you told about the investment operation?
What evidence did you receive to substantiate those representations?
And what documentation exists concerning your relationship with Delgado and Goliath?
Marjanovic may have explanations for these transactions and relationships.
He should have the opportunity to provide them.
That is particularly important because the existence of a transaction does not, by itself, establish why the transaction occurred or whether it was lawful.
The same principle applies to the bankruptcy proceedings.
The fact that the estate is seeking records does not establish wrongdoing by the person from whom those records are requested.
The evidence needs to be examined in context.
Questions for Armor Within and the Attorney General
Armor Within also has questions to answer.
After receiving my June 27 warning, what due diligence did the organisation perform?
Did anyone investigate Marjanovic’s relationship with Goliath?
Did the organisers ask him about Christopher Delgado?
Did they review the court documents I offered to provide?
Did they seek an explanation concerning the unresolved financial questions?
And, given the law-enforcement audience, did organisers consider whether participating officials should be made aware of those issues?
Those are legitimate questions about the organisation’s decision-making process.
The question for Ohio Attorney General Andy Wilson is narrower.
I have not seen evidence showing that Wilson knew about Marjanovic’s Goliath connections.
So the relevant question is simply whether Wilson or members of his staff were aware of that background when he appeared with Marjanovic at Armor Within.
That distinction matters.
The goal should not be to manufacture an association between Wilson and alleged misconduct.
The goal is to establish what was known, by whom and when.
The Evidence, Not the Optics
The story of Tomo Marjanovic should not ultimately be decided by photographs.
Not the photographs with Andrew Tate.
Not the photographs with Christopher Delgado.
And not the photograph or video with Ohio Attorney General Andy Wilson.
Nor should the conclusions be based solely on assumptions about cryptocurrency transactions.
The appropriate questions are documentary.
What did the agreements say?
What did the communications show?
Where did the money come from?
Where did it go?
Who controlled the relevant blockchain addresses?
What did the parties understand their relationship to be?
And what information was provided to investors?
Those questions matter because the public image surrounding Goliath was built heavily around trust and credibility.
Marjanovic’s history as a police officer, his entrepreneurial profile, his connections within influential business circles and his subsequent appearance at a law-enforcement wellness event all form part of that public picture.
But reputations cannot answer financial questions.
Records can.
And that is where this investigation now stands.
The evidence reviewed so far documents a cryptocurrency connection between an account attributed to Marjanovic and an address identified as belonging to Goliath Ventures. Bankruptcy proceedings are seeking additional records that may help establish the wider relationship.
The incoming cryptocurrency remains partly unexplained.
The purpose of the “GV EXEC PARTNER CONTRIBUTION” notation remains to be established.
The extent of Marjanovic’s relationship with Delgado and Goliath remains a matter requiring documentation and response.
And Armor Within has yet to explain what due diligence it conducted after receiving the warning.
There may be legitimate explanations for all of these issues.
That is precisely why the questions should be answered.
Evidence should outweigh reputation.
Records should take precedence over appearances.
And when questions involve hundreds of thousands of dollars in cryptocurrency, millions in unexplained incoming transfers and federal bankruptcy discovery, they deserve answers grounded in documents rather than assumptions.
Disclaimer: How This Investigation Was Conducted
This investigation is based on OSINT — Open Source Intelligence and documentary evidence.
The research relies on publicly available records, archived webpages, corporate filings, court documents, domain information, social-media material and publicly accessible blockchain transactions.
No hacking, unauthorised access or unlawful acquisition of private information was used in conducting this investigation.
Where confidential intelligence was received, it was treated as an investigative lead rather than automatically published as fact. Claims arising from such information were pursued through independent sources wherever possible.
Financial transactions have also been described cautiously. The identification of a transaction, wallet or blockchain address does not by itself establish ownership, intent or criminal conduct.
Similarly, a subpoena or Rule 2004 discovery request does not establish that the recipient committed wrongdoing.
The purpose of this investigation is to document the available evidence, identify unresolved questions and give the relevant individuals and organisations an opportunity to respond.
The conclusions should ultimately be determined by the evidenc
