Alleged $165M Crypto Ponzi Mastermind Deported From Fiji to US
In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S. on Aug.
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Key Facts
- Fact 1: In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S.
- Fact 2: 14 in coordination with the FBI and State Department.
- Fact 3: Prosecutors allege that from June 2022 to August 2023 he ran a $165 million Ponzi scheme called The Crypto Program, promising a guaranteed 25% monthly return and directing investors to send crypto into wallets he secretly controlled.
- Fact 4: The DOJ says he gambled over $34 million on risky currency trades, paid earlier investors with newer funds, and spent at least $10 million on personal expenses.
In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S. on Aug.
14 in coordination with the FBI and State Department. Prosecutors allege that from June 2022 to August 2023 he ran a $165 million Ponzi scheme called The Crypto Program, promising a guaranteed 25% monthly return and directing investors to send crypto into wallets he secretly controlled. The DOJ says he gambled over $34 million on risky currency trades, paid earlier investors with newer funds, and spent at least $10 million on personal expenses.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Decrypt
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