Overview
- Fijian authorities deported Edward Zimbardi to the United States on Aug. 14 after coordination with the FBI and the U.S. State Department, and he has appeared in federal court in Los Angeles while prosecutors seek detention and transfer to the Northern District of Georgia.
- A federal grand jury returned a 25-count indictment on July 8 charging Zimbardi with 12 counts of wire fraud, 12 counts of money laundering and one count of conspiracy to commit money laundering.
- Federal prosecutors allege Zimbardi ran “The Crypto Program” from June 2022 through August 2023, promising a guaranteed 25% monthly return and directing investors to send cryptocurrency to wallets the government says he secretly controlled.
- Prosecutors say more than $165 million was collected from over 6,000 investors, that more than $34 million was lost in risky foreign‑currency trades, at least $10 million was spent on personal items including a home and luxury vehicles, and new investor funds were used to pay earlier participants.
- The FBI has opened a victim portal for people who invested in the program and investigators from the DOJ, SEC, CFTC and state regulators are working on the case, though recoverable assets, restitution prospects and trial dates remain unresolved.