Flowery Branch Man Accused of Running $165M Cryptocurrency Ponzi Scheme

A Flowery Branch man, Edward Zimbardi, is facing charges in Georgia for allegedly running a $165 million cryptocurrency Ponzi scheme. The scam, known as The Crypto Program, promised investors a 25% monthly return on investment, but instead of buying online advertising packages, the money was used to fund personal expenses and repay earlier investors.

Zimbardi fled to Fiji after learning that the FBI was investigating him in July 2025. He skipped his son's wedding in Virginia, suspecting that agents might try to arrest him. Investigators traveled to Fiji to escort him back to the U.S., arriving in Los Angeles.

The scheme ran from June 2022 to August 2023 and targeted over 6,000 investors worldwide. Prosecutors said Zimbardi used new money to repay earlier investors, while spending at least $10 million on personal expenses. He also lost tens of millions betting on foreign currency.