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Variety17h agoEdward Zimbardi, the man prosecutors say masterminded a $165 million cryptocurrency Ponzi scheme called "The Crypto Program," was deported from Fiji to the United States last week to face federal fraud and money laundering charges, Cointelegraph reported. BitcoinWorld reported that he is scheduled to appear in a U.S. federal court this week, after Fijian authorities acted on a U.S. extradition request. The charges center on losses to a wide circle of investors, according to New Straits Times, which reported that the U.S. attorney in Atlanta said on Monday he is accused of defrauding more than 6,000 investors. "defrauding more than 6,000 investors and causing more than US$165 million of losses" That scale of investor harm explains why the case has drawn attention across international borders, from Fiji to Los Angeles. Cointelegraph noted that Fijian authorities deported Zimbardi in coordination with the FBI and the State Department. He now faces 25 federal counts and was scheduled to appear before a federal magistrate judge in Los Angeles, with prosecutors seeking his detention pending proceedings in Georgia. Cryptonews.net also reported his return to face the fraud and money laundering charges, citing the U.S. Attorney's Office. BitRss reported that prosecutors allege Zimbardi collected crypto from thousands of investors, lost more than $34 million on currency trades and spent at least $10 million personally. "lost over $34 million on currency trades and spent at least $10 million personally" Those alleged losses and personal spending paint a picture of a scheme that unraveled well before Zimbardi's deportation. en.bloomingbit.io also carried word of the deportation, adding to the international coverage of the case. BitcoinWorld noted that Zimbardi's return came after Fijian authorities acted on the U.S. extradition request, setting the stage for his court appearance this week.
Have any suggestions for the 3 Count? Let me know via Bluesky, Mastodon or LinkedIn. 1: Suno, Anthropic Face $1B Copyright Lawsuits From Round Hill Music Over AI Training First off today, Bill Do
Plagiarism Today·19h ago·3 min readThe UK pop star Ellie Goulding has filed a lawsuit against her two former managers, Ben Mawson and Ed Millet of TaP Management, claiming that they didn’t disclose that their management company was owned by the giant touring company Live Nation, first part
Stereogum·19h ago·3 min read
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Rolling Stone
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