Georgia Man Accused in $165 Million Crypto Ponzi Scheme Deported From Fiji
JH Kim
Summary
- Edward Zimbardi is accused of organizing and promoting a cryptocurrency Ponzi scheme under the name “The Crypto Program.”
- Prosecutors allege that he raised money by promising investors 25% monthly returns.
- Zimbardi has been charged with wire fraud and money laundering and is set to appear in US federal court.
Forecast Trend Report by Period
A Georgia man charged in a $165 million cryptocurrency Ponzi scheme has been deported from Fiji to the US and is set to appear in federal court.
The US Department of Justice said Aug. 17 that Edward Zimbardi is accused of organizing and promoting a pyramid scheme called “The Crypto Program” from June 2022 to August 2023.
Prosecutors allege that Zimbardi solicited funds by promising investors monthly returns of 25%. After the scheme was exposed, he fled to Fiji and was deported to the US by Fijian authorities last week.
Zimbardi faces charges including wire fraud and money laundering.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.