An Ohio investment manager has been sentenced to nine years in prison for orchestrating a cryptocurrency fraud scheme that collected more than $10 million from investors, according to the US Department of Justice (DOJ).
According to an official Department of Justice statement, federal prosecutors say Rathnakishore Giri, 31, of New Albany, Ohio, falsely accused He films himself As an expert cryptocurrency trader and specialist in Bitcoin (Bitcoin) derivatives while ensuring profitable returns for investors without any risk to their assets.
According to the Ministry of Justice,
“Jerry falsely promised investors that he would generate profitable returns at no risk to their principal investment amount, the return of which he guaranteed. In fact, Jerry often used funds provided by new investors to repay old investors – a hallmark of a Ponzi scheme. Additionally, Jerry had a record of investment failure, including a long history of losing investors’ principal investments, and misleading investors about the reasons for delays when they sought to cash out their investments or otherwise receive a ‘guaranteed’ return of principal.”
Prosecutors say many of the victims live in or around Columbus, Ohio.
Jerry pleaded guilty to one count of wire fraud in October 2024. Authorities say he continued to solicit money from cryptocurrency investors even after his guilty plea and while awaiting sentencing on pretrial release, causing additional losses to new victims.
In addition to the prison sentence, Geary was ordered to serve three years of supervised release. The FBI’s Cincinnati Field Office investigated the case.
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