Fiji Hands Over a Man Suspected of Ponzi-style Crypto Investment Schemes to US

Fiji handed over an American citizen suspected of involvement in multi-million-dollar cryptocurrency Ponzi schemes across the United States that promised participants returns as high as 25 percent a month and encouraged them to recruit friends and acquaintances for bonuses.

The suspect, Edward Zimbardi, 59, was “removed” from Fiji and returned to the United States last week as part of a joint operation by the FBI and Fiji’s Ministry of Immigration, senior Fiji immigration officials told OCCRP.

Zimbardi did not respond to a request for comment, and it was not immediately clear if he had been formally charged in the United States. The U.S. embassy referred questions to the FBI and the U.S. Department of Justice, and Fijian immigration officials said an FBI announcement was expected in the coming days.

Zimbardi’s legal troubles began in 1997 when he was convicted in Georgia of felony theft and served roughly 17 months in prison.

More than two decades later, he again came under scrutiny over investment schemes linked to two entities known as IMG and CryptoProgram. In June 2023, California’s Department of Financial Protection and Innovation ordered Zimbardi and CryptoProgram to cease offering unqualified securities.