According to federal prosecutors in Atlanta, a resident of Flowery Branch, Georgia, has been deported from Fiji and will face charges in his home state for defrauding more than 6,000 investors and causing over $165 million in losses through a cryptocurrency pyramid scheme.
Edward Zimbardi, 59, is charged with 12 counts of wire fraud, 12 counts of money laundering, and one count of money laundering conspiracy. Prosecutors say Zimbardi promoted “The Crypto Program” as a way to purchase online advertising packages, promising a guaranteed 25% monthly return on an initial $550 investment.
However, instead of buying advertising packages, Zimbardi allegedly lost tens of millions of dollars betting on foreign currency and spent at least $10 million on personal expenses, including buying a house for his son and paying alimony. He is also accused of using new investors' money to repay earlier investors.
Prosecutors say the scheme ran from June 2022 to August 2023. Zimbardi fled to Fiji in July 2025 after learning the FBI was investigating him, and he skipped his son's May wedding in Virginia because he suspected agents might try to arrest him.
Investigators traveled to Fiji to escort him back to the U.S., arriving in Los Angeles. “He had victims all over the world,” said U.S. Attorney Theodore Hertzberg in Atlanta at a press conference. “If you're promised 25% returns every month by someone who expresses remorse for having 'accidentally' lost your money in the past, you might be willing to go with it because you're that desperate to get your money back.” Zimbardi is expected to make an initial appearance in Los Angeles federal court. A federal public defender representing him there did not immediately respond to a request for comment.