Edward Zimbardi, 59, was deported from Fiji and charged in the U.S. with wire fraud and money laundering over an alleged $165 million cryptocurrency Ponzi scheme called "The Crypto Program." Prosecutors say more than 6,000 investors sent over $165 million to wallets Zimbardi controlled; he allegedly lost over $34 million on risky currency trades and diverted at least $10 million to personal expenses. A federal grand jury indicted him on July 8, 2026, and authorities are seeking investor submissions for potential restitution. The charges are allegations; Zimbardi remains presumed innocent pending trial.
Deported From Fiji, Georgia Man Charged In Alleged $165M Crypto Ponzi Scheme
Harmony network rollback after crypto hack cover image. Photo by BeInCrypto
Edward Zimbardi, a 59-year-old Georgia resident, was deported from Fiji and appeared in federal court after being indicted on charges tied to an alleged $165 million cryptocurrency Ponzi scheme known as "The Crypto Program." Prosecutors have charged Zimbardi with multiple counts of wire fraud and money laundering and are seeking his detention pending further proceedings in the Northern District of Georgia.
The Scheme Allegedly Promised Guaranteed Returns. According to a government press release, Zimbardi marketed The Crypto Program between June 2022 and August 2023 as an investment built around advertising packages, promising purchasers a guaranteed 25% monthly return.
Investigators say more than 6,000 investors transferred cryptocurrency into wallets that Zimbardi secretly controlled, sending in excess of $165 million. Rather than buying the advertised advertising packages, prosecutors allege Zimbardi placed over $34 million into speculative foreign-currency trades and lost substantial amounts.
Funds Used To Pay Early Investors And For Personal Spending. Prosecutors contend that Zimbardi used new investor deposits to pay earlier participants — a classic Ponzi structure — and diverted at least $10 million of investor funds to personal expenses, including the purchase of a house for his son, luxury vehicles and alimony payments to an ex-wife.
"Zimbardi allegedly tricked thousands of people to invest in his 'Crypto Program' with false promises of enormous returns. Instead, he spent the money on risky currency trades, payments to early investors, and treating himself to a house and expensive vehicles," said U.S. Attorney Theodore S. Hertzberg.
The Crypto Program collapsed in August 2023, wiping out investor funds, the indictment alleges. Zimbardi then traveled to Hawaii, Fiji and other locations. Prosecutors say he fled to Fiji in July 2025 after becoming aware of an FBI inquiry and remained there for more than a year. In May 2026, he reportedly canceled plans to attend his son's wedding in Virginia, apparently because he suspected law enforcement would seek his arrest.
A federal grand jury returned an indictment on July 8, 2026 charging Zimbardi with 12 counts of wire fraud, 12 counts of money laundering and one count of money laundering conspiracy. Fijian authorities deported him to the United States on August 14, 2026, in coordination with the FBI and the U.S. Department of State.
Wider Context. Federal authorities note the case comes amid rising crypto-related losses in the United States. The FBI Internet Crime Complaint Center (IC3) reported 181,565 cryptocurrency-related complaints in 2025 with losses exceeding $11.36 billion, a 22% increase from 2024.
The FBI is asking investors who participated in The Crypto Program to submit information about their losses for potential restitution. The indictment contains only allegations; Zimbardi is presumed innocent unless and until proven guilty at trial.
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