Ohio Investment Manager Arrested for Allegedly Running a $10M Cryptocurrency Ponzi Scheme – CoinDesk

Giri allegedly misled investor by promoting himself as an expert cryptocurrency trader with a specialty in bitcoin derivatives. According to the indictment, Giri falsely promised investors lucrative returns on the money they invested with him, with no risk to principal. In reality, he used funds from previous investors to pay off new investors in a classic Ponzi scheme set-up.

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