Fiji-deported man faces charges in $165M crypto Ponzi

US federal prosecutors announced on August 17 that Edward Zimbardi, 59, of Flowery Branch, Georgia, was indicted on 12 counts of wire fraud, 12 counts of money laundering and one count of money laundering conspiracy. Zimbardi was deported from Fiji to the United States to face charges that he defrauded more than 6,000 investors and caused more than $165 million in losses in a cryptocurrency Ponzi scheme called “The Crypto Program.”

The alleged scheme

According to prosecutors, Zimbardi promoted “The Crypto Program” through websites and videos, offering so-called advertising packages with a guaranteed 25% monthly return. Investors were encouraged to pay by transferring cryptocurrency into digital wallets that Zimbardi secretly controlled.

The US prosecutors' office said thousands of investors ultimately transferred more than $165 million into those wallets. The alleged Ponzi scheme ran from June 2022 to August 2023.

Where the money went

Instead of buying advertising packages, Zimbardi allegedly lost tens of millions of dollars on foreign-exchange trading and spent at least $10 million on personal expenses, including a house for his son and alimony payments to his ex-wife. He also used money from new investors to pay earlier investors, a hallmark of a Ponzi structure.

Investigators said he used investor funds to buy a home, luxury vehicles and pay alimony to his ex-wife.

Flight and arrest

Zimbardi fled to Fiji in July 2025 after learning the FBI was investigating him. US investigators traveled to Fiji and escorted him back to the United States, bringing him to Los Angeles.

Marlo Graham, special agent in charge of FBI Atlanta, said Zimbardi allegedly preyed on trusting individuals and fled more than 7,300 miles to the South Pacific, adding that the FBI will pursue scammers wherever they hide.

Charges and next steps

US Attorney for the Northern District of Georgia Theodore Hertzberg said at a press conference that Zimbardi has victims around the world. The FBI asked anyone who invested in The Crypto Program to provide information, noting victims could later be contacted for restitution.

Zimbardi faces wire fraud charges that could carry decades in prison if convicted.

What investors should keep in mind

This case illustrates common warning signs in investment fraud. Readers can check whether a firm is registered in the relevant regulator's official register and compare official domains and contact details to identify possible clones. Requests for advance withdrawal or release fees are a general warning sign, and absence from a warning list does not prove that a firm is safe.