Edward Zimbardi, 59, of Georgia, was arraigned in federal court on August 14 after Fijian authorities deported him in coordination with the FBI and the State Department. He faces 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy. Between June 2022 and August 2023, he allegedly ran a $165 million Ponzi scheme called The Crypto Program, promising investors a guaranteed 25% monthly return. The collected funds were misappropriated: over $34 million was gambled on risky foreign-currency trades, and at least $10 million was spent on personal expenses including a house for his son and luxury vehicles.
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