TLDREdward Zimbardi faces federal wire fraud and money laundering charges tied to a crypto Ponzi scheme.Prosecutors say the scheme, called The Crypto Program, took in more than $165 million from thousands of investors.Zimbardi allegedly promised a guaranteed 25% monthly return on advertising packages paid for with crypto.He fled to Fiji in 2025 and was deported back to the U.S. on August 14, 2026.He appeared before a federal magistrate in Los Angeles, and prosecutors are asking that he stay in custody.Federal prosecutors in Georgia have charged Edward Zimbardi with running a crypto investment scheme that collected more than $165 million from thousands of people. Zimbardi was deported from Fiji last week after living there for over a year.He appeared before a federal magistrate judge in Los Angeles. Prosecutors asked the court to keep him in custody while the case moves forward in the Northern District of Georgia.How the Scheme WorkedCourt documents say Zimbardi created and promoted a program called The Crypto Program between June 2022 and August 2023. He told investors it was a way to buy advertising packages that would pay a guaranteed 25% return every month.Investors were told to send crypto into wallets that Zimbardi controlled. Prosecutors say thousands of people sent in more than $165 million total.Instead of buying advertising, prosecutors allege Zimbardi gambled more than $34 million on foreign currency trades. Those trades reportedly lost money.To keep the scheme running, he allegedly used money from new investors to pay earlier investors. This is a common feature of a Ponzi scheme.Prosecutors also say Zimbardi spent at least $10 million on himself. That included a house for his son, luxury vehicles, and alimony payments to his ex-wife.The Collapse and the FlightThe scheme fell apart in August 2023, and investors lost their money. Zimbardi then traveled to Hawaii, Fiji, and other locations.In July 2025, he learned that the FBI was investigating him. He then moved to Fiji and stayed there for more than a year.In May 2026, Zimbardi skipped his own son’s wedding in Virginia. He reportedly suspected FBI agents would try to arrest him there, and he was right.On August 14, 2026, Fijian authorities deported Zimbardi to the United States. The move came after Fiji learned about the federal charges against him. U.S. and Fijian officials worked together on the deportation.A federal grand jury indicted Zimbardi on July 8, 2026. He faces twelve counts of wire fraud, twelve counts of money laundering, and one count of money laundering conspiracy.U.S. Attorney Theodore Hertzberg said Zimbardi tricked people with false promises of high returns. He said Zimbardi spent the money on risky trades, payouts to earlier investors, and personal purchases.FBI Special Agent in Charge Marlo Graham said Zimbardi allegedly fled more than 7,300 miles to the South Pacific after the scheme collapsed. Graham said the FBI worked to bring him back regardless of where he tried to hide.The FBI is asking anyone who invested in The Crypto Program to submit information through its victim reporting page. The agency says it will reach out to victims later about restitution.Zimbardi is 59 years old and lives in Flowery Branch, Georgia. He has not been convicted, and he is presumed innocent unless the government proves its case at trial.The case was investigated by the FBI, with help from the State Department, the SEC, the CFTC, and other agencies in the U.S. and Fiji.The post FBI Says Crypto Program Founder Ran $165 Million Investor Fraud appeared first on Blockonomi.