Ohio Crypto Scammer Sentenced After Defrauding Victims of $10 Million
BeInCrypto
Ohio investment manager Rathnakishore Giri received a nine-year prison sentence for orchestrating a $10 million cryptocurrency Ponzi scheme.Summary
Rathnakishore Giri, an investment manager from Ohio, has been sentenced to nine years in federal prison followed by three years of supervised release. Giri pleaded guilty to wire fraud after operating a $10 million Ponzi scheme that promised investors lucrative, risk-free returns on cryptocurrency and Bitcoin derivatives. Prosecutors revealed that Giri routinely lost client capital and used new investor funds to pay off earlier participants. Despite his initial indictment in 2022, he continued soliciting money from investors while awaiting sentencing.
(Source：BeInCrypto)