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$165M Crypto Scam Suspect Deported from Fiji to Face US Charges

Guavy AI Editorial Team
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A US citizen accused of running a $165 million digital-asset investment scam has been deported from Fiji to face charges. Edward Zimbardi, who operated The Crypto Program, was indicted on August 8 with 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit money laundering.

Prosecutors allege that between June 2022 and August 2023, Zimbardi promoted The Crypto Program through videos and websites while falsely promising investors guaranteed monthly returns of 25%. Thousands of investors reportedly lost $165 million.

Zimbardi is accused of using over $34 million of investor money for foreign-exchange trading, suffering substantial losses. He allegedly ran the business as a Ponzi scheme, using funds from new investors to pay returns to earlier ones.

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