Edward Zimbardi, the 59-year-old Georgia resident accused of running a $165 million crypto Ponzi scheme, was returned to U.S. custody Aug. 14 after Fijian authorities deported him, federal prosecutors said Monday. A federal grand jury in the Northern District of Georgia handed up a 25-count indictment on July 8 charging Zimbardi with 12 counts of wire fraud, 12 counts of money laundering and one count of conspiracy to commit money laundering. Prosecutors say Zimbardi promoted an operation called “The Crypto Program” from June 2022 through August 2023, pitching investors on so-called digital advertising packages that promised guaranteed monthly returns of 25%. Participants were instructed to send cryptocurrency to wallet addresses that prosecutors allege Zimbardi controlled. According to the Justice Department, thousands of investors transferred more than $165 million to those addresses during the scheme. Rather than buying advertising as promised, prosecutors allege Zimbardi used funds from later investors to pay returns to earlier participants — the classic hallmark of a Ponzi structure. The indictment has not released the underlying crypto addresses or complete transaction records, nor has the Justice Department identified which digital assets were used or how much, if any, cryptocurrency has been recovered. Federal prosecutors also allege Zimbardi funneled 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 payments. Those figures are allegations; Zimbardi is presumed innocent unless proven guilty in court. According to authorities, The Crypto Program collapsed in August 2023 and Zimbardi subsequently traveled through Hawaii, Fiji and other locations. Investigators say he fled to Fiji in July 2025 after learning of the FBI probe and stayed there for over a year. Prosecutors also contend he canceled plans to attend his son’s wedding in Virginia in May 2026 because he suspected he would be arrested — a suspicion the DOJ says proved accurate. The FBI, working with the U.S. State Department and Fijian police and immigration officials, coordinated Zimbardi’s return. FBI Atlanta agents who traveled to Fiji earlier this year publicized the arrest on social media. The SEC, CFTC, California Department of Financial Protection and Innovation, the Georgia Secretary of State and other agencies provided assistance to the investigation. Zimbardi was expected to appear before a federal magistrate judge in Los Angeles on Aug. 17, where prosecutors planned to seek his detention pending transfer or proceedings in Georgia. No publicly available court order confirming the outcome of that hearing had been posted as of this report. Assistant U.S. Attorney Bethany L. Rupert is prosecuting the case. Next steps in the criminal case include formal arraignment, discovery and motion deadlines, decisions about detention, and — eventually — whether the government can recover assets for investor restitution. The FBI has opened a dedicated portal for people who invested in The Crypto Program to submit contact details and transaction information; the agency said it may later request supporting documents for restitution efforts but cautioned that submission does not guarantee repayment. The allegations mirror other recent federal crypto prosecutions involving promised fixed returns and Ponzi-like payment practices — including separate cases tied to $328 million and $13 million losses — but those matters are unrelated to Zimbardi’s indictment. The charges in the indictment are allegations. Zimbardi has not publicly entered a plea in the Northern District of Georgia. Read more AI-generated news on: undefined/news