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Ohio Man Sentenced to 9 Years for $10M Crypto Ponzi Scheme

GateNews

Enforcement Actions

2026-05-18 22:55:53

According to the U.S. Justice Department, Rathnakishore Giri was sentenced to nine years in prison on Monday for running a cryptocurrency Ponzi scheme that defrauded investors of at least $10 million. Giri pleaded guilty to wire fraud in 2024 after falsely promising investors risk-free returns with guaranteed principal repayment. In reality, he used money from new investors to repay old investors and had a documented history of losing investors’ principal investments.

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