US charges alleged $165M crypto Ponzi operator after Fiji extradition
Authorities in the United States have accused Edward Zimbardi, age 59, of orchestrating a cryptocurrency Ponzi scheme amounting to $165 million, contributing to the list of several high-profile cases of scams in the current year. According to the Office of the United States Attorney for the Northern District of Georgia, the man faced charges in federal court after he was extradited from Fiji on August 14, 2026.
A guaranteed 25% a month that never existed
According to prosecutors, Zimbardi developed and promoted The Crypto Program from June 2022 to August 2023. The program boasted an assured return of 25% on advertising packages on a monthly basis. Instead, the money was transferred to wallets controlled by Zimbardi, the indictment claims. In total, thousands of people invested more than $165 million.
The money didnโt go into advertising. Prosecutors allege Zimbardi lost over $34 million on speculative foreign-currency bets that he made, and then used money from new investors to pay back earlier ones. At least $10 million allegedly went to personal expenses, including his sonโs house and other luxury goods. When the operation failed in August 2023, investors were left without the possibility of recovering any of their investments.
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