ATLANTA, Ga. (Atlanta Information First) — Federal authorities say a metro Atlanta man was the mastermind behind an alleged multimillion-dollar cryptocurrency Ponzi scheme that defrauded 1000’s of buyers.
The U.S. Division of Justice has indicted Edward Zimbardi of Flowery Department, who’s accused of taking $165 million from about 6,000 buyers who believed they have been paying right into a cryptocurrency promoting program. As a substitute, investigators say he used investor funds to purchase a house, luxurious autos and pay alimony to his ex-wife.
Federal prosecutors say Zimbardi fled the nation final 12 months earlier than authorities discovered him in Fiji.
“Zimbardi allegedly preyed on trusting people via a posh scheme to separate individuals from their hard-earned cash after which reportedly fled greater than 7300 miles to the South Pacific,” mentioned Marlo Graham, particular agent in cost of FBI Atlanta. “Scammers are attempting all the pieces they will to defraud individuals out of their hard-earned cash, however the FBI is doing all the pieces we are able to to verify they don’t succeed, irrespective of the place they conceal.”
Zimbardi was deported again to the USA final week. He faces wire fraud expenses that might carry many years in jail if he’s convicted.
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