Fugitive Behind $165 Million Cryptocurrency Ponzi Scheme Deported to US for Trial

Edward Zimbardi, a Georgia resident, is set to appear in a U.S. federal court following his deportation from Fiji, where he had fled after allegedly running a large-scale cryptocurrency Ponzi scheme. The scheme, called 'The Crypto Program,' promised investors a 25% monthly return on advertising packages but was instead used to fund risky currency trades, personal expenses, and to pay earlier investors.

According to authorities, between June 2022 and August 2023, Zimbardi solicited investments by convincing thousands of individuals to transfer cryptocurrency into wallets he secretly controlled, accumulating over $165 million. Instead of investing in advertising, he gambled more than $34 million on foreign currency bets and spent at least $10 million on personal luxuries, including a house and luxury vehicles.

Following the collapse of his scheme in August 2023, Zimbardi traveled internationally, including to Hawaii and Fiji. After becoming aware of the FBI investigation, he fled to Fiji in July 2025, where he remained until his deportation in August 2026. He was charged with twelve counts of wire fraud, twelve counts of money laundering, and conspiracy.

Zimbardi's arrest was a result of coordinated efforts between U.S. and Fijian authorities, including the FBI, Department of State, and local law enforcement agencies. He is scheduled to appear before a magistrate in Los Angeles, California, and faces detention pending further proceedings.

Victims of The Crypto Program are encouraged to report their cases to the FBI through their official website. The case underscores ongoing efforts to combat cryptocurrency-related fraud and enforce financial regulations across borders.