Zimbardi faces charges over $165M crypto scheme

• Edward Zimbardi was deported from Fiji to the US over an alleged $165 million crypto Ponzi scheme.
• US prosecutors accuse him of defrauding more than 6,000 investors.
• He faces 25 federal charges, including wire fraud and money laundering.

Edward Zimbardi was deported from Fiji to the US to face charges over an alleged $165 million crypto Ponzi scheme.

US prosecutors accuse Zimbardi of defrauding more than 6,000 investors through the scheme.

Zimbardi faces 12 counts of wire fraud, 12 money laundering counts and one money laundering conspiracy charge.

Prosecutors allege investors lost more than $165 million through the scheme, which involved cryptocurrency.

The case follows earlier regulatory action against Zimbardi’s CryptoProgram investment operation in California.

California regulators previously alleged that CryptoProgram used investor funds to pay purported returns to other investors.

Zimbardi will now face the US charges after his deportation from Fiji, while the allegations remain subject to court proceedings.