Heading back to U.S., alleged crypto Ponzi operator hit with 25 federal charges after Fiji deportation Edward Zimbardi, 59, a Georgia resident accused of running a roughly $165 million cryptocurrency Ponzi scheme called “The Crypto Program,” was deported from Fiji and returned to the United States on Aug. 14, federal prosecutors said. A federal grand jury in the Northern District of Georgia returned a 25-count indictment against him on July 8. What he’s charged with - 12 counts of wire fraud - 12 counts of money laundering - 1 count of conspiracy to commit money laundering The charges are allegations; Zimbardi is presumed innocent until proven guilty. Prosecutors said he was expected to appear before a federal magistrate in Los Angeles on Aug. 17, where authorities planned to seek his detention before the case proceeds in Georgia. At publication no public record of that hearing’s outcome was available. How the government says the scheme worked - From June 2022 through August 2023, Zimbardi allegedly promoted The Crypto Program as an investment in “digital advertising packages,” promising investors guaranteed monthly returns of 25%. - Investors were told to send cryptocurrency to wallet addresses prosecutors say Zimbardi secretly controlled. Authorities allege thousands of investors transferred more than $165 million into those addresses. - Rather than buying advertising, prosecutors say Zimbardi used new investor funds to pay returns to earlier participants — the classic Ponzi payout structure prosecutors allege. - The indictment also claims Zimbardi routed more than $34 million of investor money into risky foreign-currency trades that produced substantial losses, and spent at least $10 million on personal expenses, including a house for his son, luxury vehicles and alimony. What’s not yet public - Prosecutors have not released the specific cryptocurrency addresses, full transaction records, the types of digital assets investors used, or how much — if any — crypto has been recovered. Timeline and law-enforcement action - The Crypto Program allegedly collapsed in August 2023, leaving investors unable to retrieve funds. Investigators say Zimbardi traveled through Hawaii, Fiji and other locations afterward. - Prosecutors allege he learned of the FBI’s inquiry and went to Fiji in July 2025, where he remained for more than a year. Fijian authorities deported him on Aug. 14 after learning of the federal charges; the FBI and U.S. Department of State coordinated his return with Fiji’s immigration ministry and police. - The FBI led the investigation, with assistance from the SEC, CFTC, California Department of Financial Protection and Innovation, the Georgia Secretary of State and other agencies. No parallel civil enforcement action by the SEC or CFTC was listed publicly as of Aug. 18. Next steps in the case - Zimbardi faces transfer or formal appearance in the Northern District of Georgia, a plea decision, and a detention determination. Prosecutors must disclose evidence under federal rules, and the court will set deadlines for motions and a trial date. No trial date has been announced. - The FBI has opened a portal for alleged victims of The Crypto Program to submit contact details and transaction information; the agency may later request supporting documentation for restitution, though submissions do not guarantee repayment and any restitution would depend on prosecution outcomes and asset recoveries. Context in broader enforcement - Federal prosecutors have pursued several high-profile crypto-era Ponzi and fraud cases recently, including an alleged $328 million scheme tied to a Florida executive and other prosecutions where investors lost millions to purported trading businesses. The case is being prosecuted by Assistant U.S. Attorney Bethany L. Rupert. The FBI continues to lead the criminal investigation with multi-agency support. Read more AI-generated news on: undefined/news