Serial securities fraud recevidist Ed Zimbardi is under investigation in Georgia.

As
reported by WSB-TV
on February 1st;

the state of Georgia’s securities division has an open and active investigation into Ed Zimbardi.

Zimbardi, a convicted felon, is known to BehindMLM as the owner of CryptoProgram.

CryptoProgram
was an MLM crypto Ponzi scheme that
collapsed
in August 2023.

Zimbardi rebooted CryptoProgram as
Amsys
, only for that to
also collapse
shortly after launch.

After declaring he was
“not interested” in hearing from his victims
, Zimbardi stopped making public appearances towards the end of 2023.

Citing “jilted investors”, WSB-TV describes Zimbardi’s MLM companies as an “international Ponzi scheme” that “rak[ed] in millions”.

WSB-TV claims Zimbardi is currently promoting AdMediaSpend.

AdMediaSpend’s website is currently just an affiliate log in page.

A linked Privacy Policy pitches AdMediaSpend as “Private Membership club tailored for business operators … dedicated to safeguarding the privacy of our members.”

Whether Zimbardi is running AdMediaSpend is unclear. Typically MLM companies use terms like “private membership club” in an attempt to hide a scam.

In addition to Georgia, CryptoProgram attracted regulatory attention in
California
and
Alberta, Canada
.

According to WSB-TV, Zimbardi was convicted on theft related charges in Georgia over a decade ago. In 2015
Zimbardi settled EZJR securities fraud charges
with the SEC.

Whether the SEC is investigating CryptoProgram, Amsys and Zimbardi is unknown.

Update 5th March 2024 – 
Ed Zimbardi has been
arrested in the Netherlands
.

🤖 Quick Answer

Who is Ed Zimbardi and what is his background?
Ed Zimbardi is a convicted felon and serial securities fraud recidivist known as the owner of CryptoProgram, an MLM cryptocurrency scheme. He has a documented history of fraudulent business operations and regulatory violations.

What happened to CryptoProgram?
CryptoProgram was an MLM crypto Ponzi scheme that collapsed in August 2023 after allegedly generating millions in investor funds. Following its failure, Zimbardi attempted to relaunch the operation under a new name, Amsys, which also collapsed shortly after launch.

What investigation is currently underway against Zimbardi?
Georgia's securities division has an open and active investigation into Ed Zimbardi, as reported by WSB-TV on February 1st. The investigation concerns his involvement in what authorities describe as an international Ponzi scheme affecting numerous investors.

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