According to the United States federal prosecution, Edward Zimbardi, suspected of operating a encrypted Ponzi scheme of about $165 million, was repatriated by Fiji to the United States on 14 August. The case was indicted by a federal grand jury in the Northern District of Georgia, United States, on 8 July, and the prosecution stated that he was facing 25 federal charges.
Content of the prosecution ' s allegations
According to the prosecution, The Cripto Programme collected more than $165 million from thousands of encrypted investors.
According to the indictment, more than $34 million of the related funds were used for foreign exchange transactions and about $10 million was earmarked for personal expenses, including property, luxury cars and alimony.
Progress of current cases
According to the United States prosecution, Zimbardi is expected to appear in Los Angeles and the case will then be transferred to Georgia to proceed. The prosecution also plans to apply for continued detention.
The FBI has established a special channel for investors involved in The Cripto Programme to submit transaction information and contact details. According to the authorities, follow-up may require additional information for the recovery process.
Relevant scope of investigation
The federal, state and Fiji sectors were involved in the initiative. In addition to the FBI, SEC, CFTC and relevant agencies in California and Georgia provided assistance.