Edward Zimbardi, a 59-year-old from Flowery Branch, Georgia, has been deported from Fiji to face charges in the United States for allegedly running a cryptocurrency Ponzi scheme that defrauded more than 6,000 investors and caused over $165 million in losses, according to the US attorney in Atlanta. The announcement was made on Monday.
Zimbardi was indicted on 12 counts of wire fraud, 12 counts of money laundering, and one count of money-laundering conspiracy. Prosecutors allege that he pitched "The Crypto Program" as a way to purchase online advertising packages, offering a guaranteed 25% monthly rate of return on an initial investment of $550.
Alleged Scheme and Misuse of Funds
Instead of buying advertising packages, Zimbardi allegedly lost tens of millions of dollars betting on foreign currency and spent at least $10 million on personal expenses, including a house for one of his sons and alimony payments. He also purportedly used new investor money to repay earlier investors, a hallmark of a Ponzi scheme.
The alleged scheme ran from June 2022 to August 2023. Prosecutors said that Zimbardi fled to Fiji in July 2025 after learning that the FBI was investigating him. He even skipped the May wedding of one of his sons in Virginia, correctly suspecting that agents might try to arrest him at the event.
Extradition and Court Appearance
Investigators traveled to Fiji to escort Zimbardi back to the US, arriving in Los Angeles. He was expected to make an initial appearance in Los Angeles federal court. A federal public defender representing him there did not immediately respond to a request for comment.
US attorney Theodore Hertzberg in Atlanta stated at a news conference: "He had victims all over the world. If you're promised 25% returns every month by somebody who expresses remorse for having 'accidentally' lost your money in the past, you might be willing to go with it because you're that desperate to get your money back."
The case highlights the global reach of cryptocurrency fraud and the efforts of US authorities to bring alleged perpetrators to justice, even from remote locations like Fiji.
