FBI arrests man in alleged $165M crypto Ponzi scheme

A 59-year-old Georgia man was taken into FBI custody on August 14, 2026, after Fijian officials deported him over an alleged $165 million cryptocurrency Ponzi scheme that prosecutors say defrauded at least 6,000 investors worldwide. Edward Zimbardi of Flowery Branch, Georgia, was arrested when the deportation flight arrived at Los Angeles International Airport (LAX), where FBI agents who had covertly accompanied him revealed their identities.

Zimbardi allegedly operated a fraudulent business called “The Crypto Program” from June 2022 through August 2023, promising guaranteed 25% monthly returns on fake advertising packages. Investigators said thousands of victims sent funds to cryptocurrency wallets Zimbardi secretly controlled.

Contents

01

The alleged scheme and how it worked

02

The international manhunt and arrest

03

Charges and what happens next

04

How investors can respond

The alleged scheme and how it worked

According to the U.S. Attorney's Office for the Northern District of Georgia, Zimbardi promoted the scheme through videos and websites offering advertising packages with a guaranteed 25% monthly return. Investors were directed to fund the packages by transferring crypto to wallets Zimbardi secretly controlled.

Prosecutors said Zimbardi did not use the funds to purchase advertising packages. Instead, he allegedly put more than $34 million into risky foreign-currency bets, losing substantial amounts, while using money from later investors to pay earlier investors, a structure typical of a Ponzi scheme. He also allegedly spent at least $10 million on personal expenses, including a house for his son, luxury vehicles and alimony payments to his ex-wife.

The international manhunt and arrest

Zimbardi was indicted on July 8, 2026, and spent more than a year on the run before Fijian authorities deported him. U.S. Attorney Theodore S. Hertzberg said that “when his scam imploded, he allegedly tried to evade federal prosecution by fleeing to the other side of the world.”

FBI agents tracked Zimbardi across multiple countries for two years before his deportation. Agents covertly accompanied him on the flight and arrested him when it arrived at LAX on August 14, 2026.

Charges and what happens next

Zimbardi faces 12 counts of wire fraud, 12 counts of money laundering and one count of conspiracy to commit money laundering. He was scheduled to appear in federal court in Los Angeles, with prosecutors saying the government would seek his detention in U.S. Marshals Service custody pending further proceedings. The indictment contains charges only, and Zimbardi is presumed innocent unless the government proves the allegations at trial.

How investors can respond

The FBI has established a webpage at fbi.gov/thecryptoprogram for people who believe they may have been victims. Anyone who invested in “The Crypto Program” or similar guaranteed-return offerings should verify a firm's legitimacy through the relevant regulator's official register, compare official domains and contact details to identify possible clones, and treat requests for advance withdrawal or release fees as a warning sign.