Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Meyer Wilson Investigates Rathnakishore Giri for Investment Fraud

DOJ Alleges Giri Involved in $10 Million Crypto Ponzi Scheme

Rathnakishore Giri is facing federal charges related to an alleged cryptocurrency Ponzi scheme that defrauded investors out of millions. Giri, who is being investigated by multiple agencies including the Department of Justice and the Commodity Futures Trading Commission, reportedly has a history of investor fraud.

At Meyer Wilson, we work relentlessly to recover investment losses on behalf of defrauded investors. Our legal team is nationally recognized for our work, having recovered millions on behalf of clients across the country. If you invested with Rathnakishore Giri or another self-proclaimed cryptocurrency expert, contact our office at (800) 738-1960 to schedule a free consultation. 

Allegations Against Rathnakishore Giri

According to a press release from the Department of Justice Office of Public Affairs, Rathnakishore Giri, an investment manager out of Ohio, was arrested on criminal charges on November 18, 2022. The arrest stems from Giri’s alleged involvement with a Ponzi-like cryptocurrency scheme that reportedly defrauded investors out of at least $10 million. 

Court documents filed by the government allege that the 27-year-old New Albany man misled investors, selling himself as a cryptocurrency expert. He reportedly stated that he had a “specialty in trading Bitcoin derivatives.” As noted in the indictment, he promised investors “lucrative returns” at no risk to their principal. 

An investigation into the investment revealed that Giri allegedly used money raised through new investors to repay older investors in a Ponzi-like scheme.

Federal Charges Filed

Federal charges filed against Giri include five counts of wire fraud. He could face up to 20 years in prison on each wire fraud count. The Department of Justice (DOJ) has alleged that this is not the first time that Giri has defrauded investors. Their press release notes that he was previously accused of “losing investors’ principal investments” and misleading investors. 

In August, the Commodity Futures Trading Commission (CFTC) announced it was filing a civil enforcement action against Rathnakishore and his companies NBD Eidetic Capital, LLC and SR Private Equity, LLC. According to the commission, Giri allegedly defrauded investors out of over $12 million and 10 bitcoins. It is believed that over 150 investors were affected by Giri’s fraudulent scheme. 

Giri has been accused of making false and misleading statements to investors, making guarantees of principal returns and profits, and misappropriating customer funds. The government says that Giri used investor money to fund his lavish lifestyle.

Report Crypto Fraud or Suspicious Activity 

The following agencies can be a good resource for those who lost money in a crypto scam: 

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram