Rathnakishore Giri, a 31-year-old investment manager from New Albany, Ohio, has been sentenced to nine years in federal prison for orchestrating a $10 million Bitcoin Ponzi scheme. The U.S. Department of Justice (DOJ) announced that Giri, who marketed himself as a Bitcoin derivatives expert, misled investors by promising high returns with no risk. Instead of trading, he used funds from new investors to pay earlier ones. Giri's sentencing follows a guilty plea to wire fraud in October 2024. The DOJ highlighted that he continued to solicit new investors even while on pretrial release. The Commodity Futures Trading Commission (CFTC) had previously charged Giri and his firms with fraud, alleging they solicited over $12 million and more than 10 Bitcoin from over 150 customers. The FBI led the criminal investigation, urging victims to report through the Internet Crime Complaint Center. This case is part of a broader crackdown on crypto fraud, with the FBI's 2025 report noting a significant rise in cryptocurrency-related complaints and losses. Investors are cautioned against schemes promising guaranteed returns and are encouraged to report suspicious activities.