FBI Arrests Man Behind $165M Crypto Scam After International Hunt

Edward Zombardi, a 59-year-old man from Flowery Branch, Georgia, was arrested by FBI agents after being deported from Fiji for allegedly running a $165 million cryptocurrency Ponzi scheme.

Zombardi operated 'The Crypto Program' between June 2022 and August 2023, promising investors guaranteed 25% monthly returns on fake advertising packages. Thousands of victims sent funds to Zombardi's secretly controlled cryptocurrency wallets.

The operation initially spread through word of mouth before using websites to attract more investors. Participants were offered commissions to recruit new investors, a structure typical of a Ponzi scheme.

Federal authorities have been tracking Zombardi for over two years as he traveled around the world. He spent at least $10 million on personal items, including luxury cars and alimony payments.