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Georgia Man Deported From Fiji to Face Charges in $165 Million Crypto Ponzi Scheme
Just the facts
Federal law enforcement officers escorted 59-year-old Edward Zimbardi of Flowery Branch, Georgia, back to the United States following his deportation from Fiji. A federal grand jury in Atlanta indicted Zimbardi on 12 counts of wire fraud, 12 counts of money laundering, and one count of money-laundering conspiracy. Prosecutors allege Zimbardi operated a cryptocurrency Ponzi scheme called The Crypto Program from June 2022 to August 2023, defrauding more than 6,000 investors of over $165 million. Investigators stated Zimbardi promised monthly returns of 25 percent but instead used investor funds for personal expenses and foreign currency trading.
Why this is news
Federal authorities extradited 59-year-old Georgia resident Edward Zimbardi from Fiji to the United States to face fraud charges. Law enforcement officials apprehended Zimbardi after he allegedly fled the country to avoid a federal investigation.
Sources
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