Crypto Ponzi suspect faces 25 charges after deportation

Edward Zimbardi, the alleged operator of a $165 million crypto Ponzi scheme, returned to the United States on Aug. 14 after authorities in Fiji deported him, federal prosecutors announced Monday. Summary Zimbardi faces 25 federal counts after Fijian authorities deported him to the United States Friday. Prosecutors allege The Crypto Program collected more than $165 million from thousands of cryptocurrency investors. Investors were allegedly promised guaranteed monthly returns of 25% through purported digital advertising package investments. More than $34 million allegedly funded foreign currency trades, while $10 million covered personal expenses. The indictment remains unproven, and Zimbardi retains the presumption of innocence before his federal trial. Zimbardi, 59, of Flowery Branch, Georgia, faces 12 counts of wire fraud, 12 counts of money laundering and one count of conspiracy to commit money laundering. A federal grand jury in the Northern District of Georgia returned the indictment on July 8. The U.S. Attorney’s Office said Zimbardi was expected to appear before a federal magistrate judge in Los Angeles on Aug. 17. Prosecutors planned to seek his detention before the case pr...