You can run, but you can't hide. Federal proceedings await a Georgia man whom authorities accuse of operating a $165 million crypto Ponzi scheme and fleeing to Fiji.
Officials say the venture drew in thousands of investors with promises of unusually large returns, even though their money was allegedly diverted to other uses.
Here's what to know
In a press release, the U.S. Attorney's Office for the Northern District of Georgia revealed they named Edward Zimbardi, 59, of Flowery Branch, Georgia, in a federal indictment filed July 8, 2026, alleging 12 counts of wire fraud, 12 counts of money laundering, and one count of money laundering conspiracy.
His initial appearance is expected in Los Angeles before a federal magistrate judge, where prosecutors plan to argue that he should remain detained while the case moves forward in Georgia.
Investigators say Zimbardi created, promoted, and operated an enterprise called The Crypto Program between June 2022 and August 2023. They added the pitch focused on buying advertising packages that supposedly came with a guaranteed 25% return each month.
Prosecutors allege that at least $10 million was spent on personal costs, including alimony, luxury cars, and a home for his son. They also say money from later investors was used to pay earlier ones, and that more than $34 million was lost on foreign-currency trades.
TCD Picks » Quince Spotlight
💡These best-sellers from Quince deliver affordable, sustainable luxury for all
"Scammers are trying everything they can to defraud people out of their hard-earned money, but the FBI is doing everything we can to make sure they don't succeed, no matter where they hide," FBI Atlanta Special Agent in Charge Marlo Graham said in the release.
Overall, authorities say thousands of investors sent more than $165 million in cryptocurrency to wallets Zimbardi allegedly controlled. An indictment is only an accusation, and Zimbardi remains presumed innocent unless he is found guilty at trial.
More background
Crypto remains a complicated space for consumers. Digital assets have been tied to legitimate innovation and newer financial models, including some projects connected to cleaner energy development.
But the market's speed, hype, and technical complexity can also make it easier for bad actors to obscure risk and move money in ways everyday investors may struggle to follow.
Authorities say Zimbardi also tried to avoid capture after The Crypto Program collapsed in August 2023. The U.S. Attorney's Office says that after the collapse, he moved through places including Hawaii and Fiji.
It also says he went to Fiji in July 2025 after learning of the FBI probe, and that he later canceled plans to attend his son's Virginia wedding in May 2026 because he believed agents would arrest him there.
What's being done?
Officials say returning Zimbardi to the United States required coordination across countries. After authorities in Fiji learned of the charges, they deported him on Aug. 14, 2026, working with the FBI and the U.S. Department of State.
"Thanks to law enforcement and diplomatic authorities in Fiji and the United States, Zimbardi is back on American soil and will face trial," U.S. Attorney Theodore S. Hertzberg said in the release.
Federal investigators are asking people who invested in The Crypto Program to identify themselves by submitting victim information to the FBI at fbi.gov/thecryptoprogram.
The FBI says it will contact victims about what comes next, including any documentation that may be needed for restitution.
Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.
