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Crypto

Flowery Branch man accused of running $165 million crypto Ponzi scheme deported from Fiji, authorities say

A Flowery Branch man accused of masterminding a $165 million cryptocurrency Ponzi scheme is back in the United States after federal authorities say he fled more than 7,000 miles to Fiji while investigators closed in.

CBS News

Publisher

Aug 17, 2026 at 8:59 PM UTC · 3 분 소요

Flowery Branch man accused of running $165 million crypto Ponzi scheme deported from Fiji, authorities say
Image via CBS News
번역 중…

A Flowery Branch man accused of masterminding a $165 million cryptocurrency Ponzi scheme is back in the United States after federal authorities say he fled more than 7,000 miles to Fiji while investigators closed in.

Edward Zimbardi, 59, is facing federal wire fraud and money laundering charges in a case being prosecuted out of the Northern District of Georgia. Prosecutors say Zimbardi persuaded thousands of people to invest in what he called "The Crypto Program," promising enormous returns before the operation collapsed in 2023.

The Flowery Branch resident was deported from Fiji on Friday, Aug. 14, following coordination between Fijian authorities, the FBI and U.S. Department of State.

He was expected to make his first federal court appearance in Los Angeles on Monday before proceedings eventually move back to Georgia.

Federal prosecutors say Zimbardi created and promoted The Crypto Program between June 2022 and August 2023.

Through websites and promotional videos, Zimbardi allegedly advertised so-called advertising packages that guaranteed investors a 25% return every month. Investors were encouraged to purchase the packages by transferring cryptocurrency into digital wallets that prosecutors say Zimbardi secretly controlled.

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