Georgia man deported from Fiji to face $165m crypto Ponzi scheme charges
Edward Zimbardi, 59, who had fled US, will appear in court in Los Angeles on wire fraud and money-laundering charges A man from Flowery Branch, Georgia , 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 $165m of losses in a cryptocurrency Ponzi scheme, the US attorney in Atlanta said on Monday. Edward…
Edward Zimbardi, a 59-year-old man from Flowery Branch, Georgia, has been deported from Fiji to face charges in the US. He is accused of running a cryptocurrency Ponzi scheme that defrauded over 6,000 investors and caused more than $165m in losses, according to the US attorney in Atlanta.
Zimbardi was indicted on multiple counts, including 12 counts of wire fraud, 12 counts of money laundering, and one count of money-laundering conspiracy. Prosecutors allege that he collected cryptocurrency from thousands of investors, lost over $34 million on currency trades, and spent at least $10 million personally, as reported by Cointelegraph.
Zimbardi will appear in court in Los Angeles, with prosecutors seeking his detention pending proceedings in Georgia. The US Attorney’s Office for the Northern District of Georgia said that Fijian authorities deported Zimbardi in coordination with the FBI and State Department.
Brief written by urgent.news from The Guardian US, The Block, Cointelegraph — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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