Extradited man faces charges in $165 million crypto Ponzi scheme
Edward Zimbardi, 59, was deported from Fiji to the United States on Aug. 14 after a federal indictment accused him of operating The Crypto Program, an alleged $165 million Ponzi that ran from June 2022 to August 2023. Prosecutors charged him with 12 counts each of wire fraud and money laundering, plus a money laundering conspiracy count, saying investors were promised 25% monthly returns and sent crypto to wallets Zimbardi controlled. More than $34 million allegedly went to risky foreign currency trades and at least $10 million funded personal expenses; the FBI opened a victim portal and several agencies are assisting the probe.
Deported defendant faces federal charges over alleged $165 million fraud
Context
The Crypto Program allegedly collapsed in August 2023 and investors lost access to funds.…
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