Federal prosecutors claim Zimbardi lured thousands of investors between June 2022 and August 2023 by promising guaranteed 25% monthly returns through digital advertising packages. Instead of funding these operations, the indictment alleges the scheme functioned as a classic Ponzi, using capital from new participants to pay earlier investors. Authorities state that Zimbardi diverted at least $10 million into personal luxuries, including vehicles and property, while sinking another $34 million into high-risk foreign currency trades that resulted in significant losses.
In section Cryptocurrency
Crypto Ponzi suspect deported from Fiji to face 25 federal charges
Edward Zimbardi returned to U.S. custody on August 14 after Fijian authorities deported him to answer for an alleged $165 million cryptocurrency fraud. The 59-year-old Georgia resident now faces 25 federal counts, including wire fraud and money laundering, stemming from his operation of the defunct investment platform, The Crypto Program.
The investigation, led by the FBI with support from the SEC and CFTC, uncovered that Zimbardi fled to Fiji in July 2025 to evade arrest. Prosecutors note he even bypassed his son’s wedding in Virginia last May out of fear that agents were closing in. Following his deportation, Zimbardi was scheduled to appear before a federal magistrate in Los Angeles to determine his detention status before the case moves to the Northern District of Georgia. The FBI has launched a dedicated portal for potential victims to submit transaction details, though officials caution that restitution depends entirely on future trial outcomes and the recovery of remaining assets.
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