In fact, prosecutors also alleged that Zimbardi lost tens of millions of dollars while betting on foreign currencies, while at least $10 million was spent on personal expenses. That said, the scheme was reportedly operated from June 2022 through August 2023.
Adding more to the matter, U.S. Attorney Theodore Hertzberg in Atlanta said,
He had victims all over the world. If you’re promised 25% returns every month by somebody 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.
Will Zimbardi plead guilty?
Not only this, the Georgia man also attempted to escape prosecution. Prosecutors say Zimbardi learned that the FBI was investigating him and fled to Fiji in July 2025. As of now, he has not been found guilty and is entitled to defend himself in court.
However, with 25 charges, which include 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit money laundering, it would be difficult for Zimbardi to escape jurisdiction.
This followed a recent cryptocurrency Ponzi scheme carried out by Goliath Ventures and CEO Christopher Delgado for allegedly orchestrating a scheme that amassed nearly $397 million from about 1,611 customers. According to AMBCrypto’s recent report, the Commodity Futures Trading Commission announced a lawsuit against them.
Final Summary
- Zimbardi allegedly used money coming from new investors to pay earlier investors.
- He lost tens of millions of dollars while betting on foreign currencies and spent at least $10 million on his personal expenses.
