NEW ALBANY, Ohio (WCMH) – A New Albany investment manager was arrested and accused of taking part in a cryptocurrency investment fraud scheme.

Rathnakishore Giri, 27, is accused of promising investors that he would “generate lucrative returns with no risk to their principal investment amount, which he guaranteed to return,” according to a release by the Department of Justice. Giri allegedly misled investors by falsely promoting himself as an expert cryptocurrency trader, with a specialty in trading Bitcoin derivates.

The DOJ says Giri instead would use money provided by new investors to repay old investors, which is often how Ponzi schemes work. He is accused of raising at least $10 million from investors.

Giri, who the DOJ says has a history of investment failures, be it losing principal investors, misleading investors on payout delays or obtaining the return of their principal investment, is being charged with five counts of wire fraud and could face up to 20 years in prison if convicted on each count.

The FBI Cincinnati Field Office continues to investigate the case.