However, does eating too much chocolate cause any real health risks? The popular opinion of chocolate is that it is a fattening food that gives you spots, and contains no nutritional. The fact is, Chocolate does contain saturated fat. This type of fat can contribute to heart disease by increasing levels of bad cholesterol in the blood. on the other hand, scientists at the University of California have discovered that chocolate also contains high levels or chemicals called phenolics , also found red wine, coffee, and tea. Some phenolics, if consumed in small amounts, are believed to lower the risk of heart disease