🔥 Alleged $165M Crypto Ponzi Mastermind Deported From Fiji to US.
Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S. 14 in coordination with the FBI and State Department. Prosecutors allege that from June 2022 to August 2023 he ran a $165 million Ponzi scheme called The Crypto Program, promising a guaranteed 25% monthly return and directing investors to send crypto into wallets he secretly controlled. The DOJ says he gambled over $34 million on risky currency trades, paid earlier investors with newer funds, and spent at least $10 million on personal expenses.
The accused architect of a $165 million cryptocurrency Ponzi scheme is back on American soil after more than a year on the run in the South Pacific, the Justice Department said Monday. Edward Zimbardi, 59, of Flowery Branch, Georgia, appeared in federal court to face wire fraud and money laundering charges after Fijian authorities deported him to the United States on Aug. 14, working alongside the FBI and the State Department. He was charged in a July indictment with 12 counts of wire fraud, 12 counts of money laundering, and one count of money laundering conspiracy.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #AICryptoIntegration #CryptoWallet
Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Edward Zimbardi, 59, of Georgia, appeared in federal court to face 12 counts of wire fraud, 12 counts of money laundering, and one conspiracy count after Fijian authorities deported him to the U.S. 14 in coordination with the FBI and State Department. Prosecutors allege that from June 2022 to August 2023 he ran a $165 million Ponzi scheme called The Crypto Program, promising a guaranteed 25% monthly return and directing investors to send crypto into wallets he secretly controlled. The DOJ says he gambled over $34 million on risky currency trades, paid earlier investors with newer funds, and spent at least $10 million on personal expenses.
The accused architect of a $165 million cryptocurrency Ponzi scheme is back on American soil after more than a year on the run in the South Pacific, the Justice Department said Monday. Edward Zimbardi, 59, of Flowery Branch, Georgia, appeared in federal court to face wire fraud and money laundering charges after Fijian authorities deported him to the United States on Aug. 14, working alongside the FBI and the State Department. He was charged in a July indictment with 12 counts of wire fraud, 12 counts of money laundering, and one count of money laundering conspiracy.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #AICryptoIntegration #CryptoWallet