Georgia man arrested for $165M crypto Ponzi scheme arrested
Atlanta federal court sees $165M crypto scam
Federal authorities accused a Georgia man of running a $165 million cryptocurrency Ponzi scheme that defrauded 6,000 victims.
ATLANTA - A Flowery Branch man accused of running a $165 million cryptocurrency Ponzi scheme was arrested by FBI agents following his deportation from Fiji.
Flowery Branch crypto scheme
What we know:
Federal prosecutors and the FBI announced the suspect's capture on Monday after Fijian authorities deported him on Friday. Edward Zimbardi, 59, allegedly operated a fraudulent business named "The Crypto Program" from June 2022 through August 2023.
Investigators said Zimbardi promised guaranteed 25% monthly returns on fake advertising packages. Thousands of victims sent funds to cryptocurrency wallets Zombardi secretly controlled.
Federal agents escort Flowery Branch resident Edward Zombardi across an airport jetway following his arrest and deportation from Fiji on August 14, 2026, over an alleged $165 million cryptocurrency fraud scheme. (FBI)
Atlanta federal court appearance
What's next:
Zimbardi faces 12 counts of wire fraud, 12 counts of money laundering and one count of conspiracy to commit money laundering. Prosecutors said he could appear in an Atlanta federal court within the next three weeks.
Arrest of alleged massive Ponzi scheme organizer
Federal authorities in Atlanta announced the arrest and extradition of the alleged organizer of a massive international Ponzi scheme.
International manhunt timeline
Timeline:
The program imploded in August 2023, causing Zimbardi to flee the United States and travel overseas to places like Hawaii. After learning of an FBI probe in July 2025, he hid in Fiji for over a year.
In May, Zimbardi skipped his son's wedding in Virginia out of fear that FBI agents would arrest him at the venue. Fijian authorities eventually discovered the charges and placed him on a U.S.-bound plane on Friday.
Federal authorities walk suspected $165 million crypto scheme organizer Edward Zombardi down an airplane jet bridge into custody following his international flight back to the U.S. on August 14, 2026. (FBI)
Investor funds misspent
By the numbers:
Prosecutors allege Zimbardi defrauded at least 6,000 investors worldwide out of more than $165 million. He spent over $34 million on risky foreign-currency trades and at least $10 million on personal items, including luxury cars, alimony payments and a home for his son.
Authorities address victim recovery
What they're saying:
Investigators said the operation initially spread through word of mouth before using websites to attract investors. Authorities said the program later changed names after investigators began closing in. Participants were also offered commissions to recruit new investors, a structure authorities described as typical of a Ponzi scheme.
Federal authorities said they had been tracking the suspect for more than two years as he traveled around the world.
The search eventually led investigators to Fiji. Authorities there placed the suspect on a plane for deportation while FBI agents covertly accompanied him on the flight back to the United States.
Agents revealed their identities and arrested him when the flight arrived at LAX. An FBI official described the suspect as quiet and "humbled" after realizing he had been captured.
Federal officials said the case underscores the financial and personal damage caused by investment fraud. They urged potential investors to be skeptical of guaranteed returns, pressure to act quickly and investment opportunities that appear too good to be true.
The FBI has established a webpage for people who believe they may have been victims of the alleged scheme to provide information to investigators.
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Victim reporting link
What you can do:
Federal authorities suspect additional victims exist and urge affected investors to submit information to the FBI online at http://fbi.gov/thecryptoprogram.