The mastermind of the $165 million cryptocurrency Ponzi scheme has been deported back to the U.S. and faces federal fraud charges

According to Cointelegraph, Edward Zimbardi, the mastermind suspected of orchestrating a $165 million cryptocurrency Ponzi scheme, was recently deported back to the United States by Fijian authorities after hiding in Fiji for over a year, coordinated by the FBI and the U.S. State Department. He will appear in federal court in the Northern District of Georgia.

Prosecutors allege that from June 2022 to August 2023, he promised investors a fixed return of 25% per month under the name "The Crypto Program," illegally raising over $165 million in cryptocurrency assets. The funds raised were not used for the promised advertising package business but were instead diverted to over $34 million in high-risk foreign exchange trading, repaying early investors with new funds, and at least $10 million in personal expenses, including the purchase of real estate, luxury vehicles, and alimony payments. Zimbardi currently faces 12 counts of wire fraud, 12 counts of money laundering, and 1 count of conspiracy to commit money laundering, totaling 25 federal charges.