Edward Zimbardi, 59, was deported from Fiji and returned to the U.S. to face an indictment accusing him of orchestrating a $165 million cryptocurrency Ponzi scheme known as The Crypto Program. Prosecutors allege he promised investors 25% monthly returns and routed funds into wallets he controlled, then used new investor money to pay earlier participants. Authorities say he lost over $34 million on risky foreign-exchange trades and spent at least $10 million on personal purchases. The FBI is asking victims and witnesses to come forward.
Accused Architect of $165M Crypto Ponzi Deported From Fiji, Returns to U.S. to Face Charges
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The Justice Department announced Monday that Edward Zimbardi, 59, of Flowery Branch, Georgia, has been deported from Fiji and returned to the United States to face federal charges in connection with an alleged $165 million cryptocurrency Ponzi scheme.
Indictment and Charges
Zimbardi was deported on Aug. 14 after cooperation between Fijian authorities, the FBI and the U.S. State Department. A July indictment charges him with 12 counts of wire fraud, 12 counts of money laundering and one count of money laundering conspiracy.
How the Scheme Allegedly Operated
Prosecutors say that from June 2022 through August 2023 Zimbardi created and promoted an operation called The Crypto Program. He reportedly advertised packages that promised a guaranteed 25% monthly return, encouraging investors to pay with cryptocurrency sent to digital wallets Zimbardi allegedly controlled. According to the government, thousands of investors transferred more than $165 million into those wallets.
Instead of purchasing advertising as promised, prosecutors allege Zimbardi gambled more than $34 million on risky foreign-exchange trades and used funds from new investors to pay earlier participants — conduct the government describes as the hallmark of a Ponzi scheme. They also allege he spent at least $10 million on personal expenses, including buying a home for his son, purchasing luxury vehicles and making alimony payments.
Flight, Deportation and Appeal to Victims
When the program collapsed in August 2023, Zimbardi left the country. The DOJ says he learned of an FBI inquiry in July 2025 and established residence in Fiji, and that he even skipped his son’s wedding in Virginia in May 2026 because he suspected agents would be waiting to arrest him. Following his deportation, Zimbardi appeared in federal court in the United States to face the charges.
The FBI is urging anyone who invested in The Crypto Program or who has information about the scheme to contact investigators.
Note: The allegations in the indictment are unproven, and Zimbardi is presumed innocent unless and until convicted in a court of law.
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