Georgia man charged in US with running US$165 million crypto Ponzi scheme
NEW YORK: A Georgia man has been deported from Fiji to face charges in his home state accusing him of defrauding more than 6,000 investors and causing more than US$165 million of losses in a cryptocurrency Ponzi scheme, the US attorney in Atlanta said on Monday.
A Georgia man has been deported from Fiji to the United States to face charges related to a $165 million cryptocurrency Ponzi scheme, according to the US attorney in Atlanta. Edward Zimbardi, 59, from Flowery Branch, Georgia, is accused of defrauding over 6,000 investors through his scheme called The Crypto Program. The program allegedly promised a guaranteed 25% monthly return on a $550 investment, but instead, Zimbardi lost millions betting on foreign currencies, spent $10 million on personal expenses, and used new funds to repay earlier investors.
The scheme allegedly ran from June 2022 to August 2023. Zimbardi fled to Fiji in July 2025, after learning of an FBI investigation, and missed his son's wedding in Virginia, suspecting that agents might arrest him. US Attorney Theodore Hertzberg confirmed that the scheme had victims worldwide.
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