LeeAnn Harper’s Lawsuit Exposes CryptoProgram’s Alleged Ponzi Scheme
On July 25, 2025, LeeAnn Harper, a Canadian investor, filed a lawsuit against Edward Zimbardi, Ramon Gemperle, and Christopher Livingston in the U.S. District Court for the Northern District of Georgia, alleging they ran a Ponzi scheme through CryptoProgram and its rebranded version, Amsys. Harper claims to have lost over $366,000, accusing the defendants of promising 25% monthly returns while misrepresenting the scheme as a safe advertising-based investment. The complaint, reported by WSB-TV, cites violations of the RICO Act, securities fraud, and Georgia law, seeking restitution and an injunction to freeze assets.
The Mechanics of the Alleged Fraud
CryptoProgram, launched in late 2022, promised investors consistent 25% monthly returns, allegedly funded by online advertising. Cointelegraph notes that such high, fixed returns are a hallmark of Ponzi schemes, relying on new investor funds to pay earlier participants. After fraud warnings from California’s DFPI and Canada’s BCSC in 2023, Zimbardi rebranded to Amsys, which collapsed by August 2023 with withdrawals paused, per YouTube’s Ponzi Patrol. Harper’s lawsuit alleges Zimbardi laundered funds through a Saint Vincent forex broker, a claim supported by DFPI’s June 2023 desist order. Technical risks include opaque Blockchain transactions, with no verifiable proof of advertising revenue, per CryptoRank.
Regulatory and Market Fallout
The lawsuit follows Zimbardi’s March 2024 arrest in the Netherlands for money laundering, though he was released days later, per CoinDesk. Georgia’s Securities Division opened an investigation in February 2024, and the Texas State Securities Board is probing related schemes like Apertum Foundation, suggesting a pattern of regulatory evasion. The case could deter retail investors from unregistered crypto ventures, boosting demand for regulated assets like Bitcoin ($116,074) and Ethereum ($3,690) ETFs, which saw $1.2 billion in July inflows, per The Block. X posts from @CryptoSlate warn of declining trust in altcoin schemes, potentially stabilizing BTC and ETH markets.
Investor Caution Amid Ongoing Probes
Harper’s lawsuit, alleging RICO violations and fraud, may set a precedent for recovering losses from Ponzi schemes, but Zimbardi’s rumored flight to Fiji raises concerns about asset recovery, per Yahoo Finance. Investors should avoid unregistered platforms, verify projects on CoinMarketCap, and monitor SEC updates via @Cointelegraph. Diversifying into BTC or ETH ETFs can mitigate risks, especially with Bitcoin’s $115K support holding firm, per CoinGape. The CryptoProgram case underscores the need for vigilance as regulatory scrutiny intensifies, with outcomes likely shaping investor confidence in 2026.
