A Gwinnett County man at the center of a Channel 2 Action News investigation into an alleged international Ponzi scheme is now facing a new federal lawsuit.
The complaint filed this month in the U.S. District Court for the Northern District of Georgia accuses Ed Zimbardi of violating federal and Georgia state laws by misleading investors through a so-called “Crypto Program.”
According to the complaint, LeeAnn Harper of British Columbia invested more than $366,000 in the Crypto Program and ultimately lost more than $260,000.
“Defendants falsely promised guaranteed monthly returns of 25%, claimed investor funds were safe and exclusively used for online advertising, and concealed the true nature of the scheme,” the lawsuit states.
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The lawsuit also warns Zimbardi may be preparing to flee the country of Fiji in the coming days.
Zimbardi promoted the Crypto Program as a low-risk, high-return investment, but the lawsuit alleges in reality, it operated as a Ponzi scheme.
“The payouts were strategically timed to keep the fraud going,” the complaint states.
Zimbardi was served at his mother’s home in a gated Gwinnett County subdivision, but he did not respond to multiple phone calls or text messages from Channel 2 Action News.
In a 2024 Channel 2 Action News investigation, victims across the country described being lured in by promises of big returns
“How exciting was it to watch that dollar figure go up?” Channel 2 consumer investigator Justin Gray asked investor Nathan Whaley in 2024.
“It’s a feeling I can’t replicate. I got hooked,” Whaley said.
Zimbardi has never responded to our questions, but he did speak to a YouTube channel called The Ponzi Patrol, saying: “I enjoy helping people, and when people lose money, for whatever reason, I enjoy helping them recover it.”
In 2023, a series of fake stories about Ed Zimbardi portrayed him as a meteorologist, environmentalist, and musician — likely intended to game Google and bury cease-and-desist orders from California and Canada in search results.
Channel 2 Action News reached out to the FBI. A spokesperson tells us they do not comment on the existence of investigations. But the FBI encourages anyone who believes they have been the victim of a Ponzi scheme to reach out to them.
