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Crypto — Crime — FBI

How Did The FBI Track Down A Suspect In A $165 Million Crypto Scheme

Edward Zimbardi, 59, faces federal wire fraud, money laundering and conspiracy charges in Georgia

,   and  TIPP Staff
2 min read
Edward Zimbardi (Pic via X)

A Georgia man accused of orchestrating a $165 million cryptocurrency Ponzi scheme has returned to the United States after authorities say he fled to Fiji to avoid arrest.

Edward Zimbardi, 59, faces federal wire fraud, money laundering and conspiracy charges in Georgia. Prosecutors allege he operated “The Crypto Program” from 2022 to 2023, promising investors monthly returns of 25% through cryptocurrency-based advertising packages.

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According to prosecutors, thousands of investors transferred more than $165 million into wallets allegedly controlled by Zimbardi. Authorities claim he lost more than $34 million through risky foreign currency trades and used funds from newer investors to pay earlier participants. Prosecutors also allege that at least $10 million went toward personal expenses.

Zimbardi was deported from Fiji on August 14 following cooperation between Fijian authorities, the FBI and State Department. He is expected to face proceedings in Georgia.

Federal investigators are seeking potential victims and documents that could support restitution. Zimbardi is presumed innocent unless proven guilty.

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