Alleged $165M crypto Ponzi mastermind faces US charges after Fiji deportation

cointelegraphPublished on 2026-08-18Last updated on 2026-08-18

Abstract

Edward Zimbardi, the alleged mastermind behind a $165 million crypto Ponzi scheme, has been deported from Fiji to the U.S. to face federal charges. Prosecutors allege that from June 2022 to August 2023, he promoted "The Crypto Program," promising 25% monthly returns from advertising-package investments. Instead, Zimbardi allegedly used over $34 million for risky forex trades, used new investor funds to pay earlier ones, and spent at least $10 million on personal expenses like a house and luxury cars. He was indicted on multiple counts of wire fraud and money laundering and fled to Fiji upon learning of the FBI investigation.

Edward Zimbardi, the alleged mastermind of a $165 million crypto Ponzi scheme, was returned to the United States after being deported from Fiji to face federal fraud and money laundering charges.

On Monday, the US Attorney’s Office for the Northern District of Georgia said that Fijian authorities deported Zimbardi on Friday in coordination with the FBI and State Department. He was scheduled to appear before a federal magistrate judge in Los Angeles, with prosecutors seeking his detention pending proceedings in Georgia.

Prosecutors allege Zimbardi promoted a scheme called “The Crypto Program” from June 2022 to August 2023 as an advertising-package investment promising guaranteed returns of 25% monthly. Thousands of investors allegedly sent over $165 million in crypto to wallets he secretly controlled.

Instead of purchasing advertising packages, Zimbardi allegedly placed more than $34 million in risky foreign currency trades, used later investments to pay off earlier investors and spent at least $10 million on personal expenses, including a house, luxury vehicles and alimony.

Zimbardi was indicted July 8 on 12 counts of wire fraud, 12 counts of money laundering and one money laundering conspiracy count. Prosecutors allege he fled to Fiji after learning of the FBI investigation and remained there for more than a year.

Related: Former Goliath Ventures CEO pleads guilty in $400M crypto Ponzi case

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Related Questions

QWho is Edward Zimbardi and what is he accused of?

AEdward Zimbardi is the alleged mastermind of a $165 million cryptocurrency Ponzi scheme called 'The Crypto Program'. He is accused of wire fraud, money laundering, and money laundering conspiracy.

QFrom which country was Edward Zimbardi deported to the United States?

AEdward Zimbardi was deported to the United States from Fiji.

QWhat were the promised returns and the total amount allegedly collected in the Ponzi scheme?

AThe Ponzi scheme, 'The Crypto Program', promised investors guaranteed returns of 25% monthly. It allegedly collected over $165 million from thousands of investors.

QHow did Zimbardi allegedly use the investors' funds?

AInstead of buying the advertised advertising packages, Zimbardi allegedly placed over $34 million in risky foreign currency trades, used later investments to pay off earlier investors, and spent at least $10 million on personal expenses such as a house, luxury vehicles, and alimony.

QWhen was Edward Zimbardi indicted and what prompted his flight to Fiji?

AEdward Zimbardi was indicted on July 8 on multiple counts of fraud and money laundering. He allegedly fled to Fiji after learning of the FBI investigation and remained there for more than a year before being deported.

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