Rathnakishore Giri, an Ohio resident, has been sentenced to nine years in prison and three years of supervised release for operating a cryptocurrency investment Ponzi scheme. According to the U.S. Department of Justice, Giri falsely claimed expertise in Bitcoin derivatives trading, promising investors "guaranteed high returns" and defrauding them of over $10 million. He used funds from new investors to pay earlier ones. Despite pleading guilty to wire fraud in October 2024, Giri continued soliciting funds from crypto investors, resulting in additional victim losses.