News India Times

www.newsindiatimes.com – that’s all you need to know A n Ohio man was sentenced May 18, 2026, to nine years in prison and three years of super- vised release for orchestrating a cryptocurrency investment fraud scheme that raised over $10 million from inves- tors, many of whom resided in or around Columbus, Ohio. According to court documents, Rath- nakishore Giri, 31, of New Albany, Ohio, misled investors by fraudulently promot- ing himself as an expert cryptocurrency trader, with a specialty in trading Bitcoin derivatives. Giri falsely promised investors that he would generate lucrative returns with no risk to their principal investment amount, which he guaranteed to return. In reality, Giri often used money provided by new investors to repay old investors – a hallmark of a Ponzi scheme. In addition, Giri had a record of investment failures, including a long history of losing inves- tors’ principal investments, and misled investors about reasons for delays when they sought to cash out their investments or otherwise obtain the return of their “guaranteed” principal. In October 2024, Giri pleaded guilty to one count of wire fraud. Following his guilty plea, while on pretrial release pending sentencing, Giri continued to solicit funds from cryptocurrency inves- tors, causing additional harm to new victims. In advance of today’s sentencing, Giri admitted to this additional conduct pursuant to an amended plea agreement with the Department. Ohio Investment Manager Rathnakishore Giri, Sentenced To Nine Years For $10M Cryptocurrency Ponzi Scheme Justice Department Community United Nations News India Times (May 30, 2026 - June 5, 2026) June 5, 2026 9 I ndia on Tuesday reiterated its call for reforms at the United Nations, stressing the need to enhance the or- ganisation’s productivity and effectiveness, and high- lighting that it cannot address contemporary global challenges while remaining frozen in an architecture designed in the 1940s. The remarks were made by Ambassador Harish Parvathaneni at the UN Security Council Open Debate on ‘Upholding the Purposes and Principles of the UN Charter and Strengthening the UN-centered Interna- tional System’. He presented India’s suggestions to reinforce a UN- centered international system and said that these in- clude strengthening the General Assembly of the body; undertaking meaningful reforms, expanding the UNSC to reflect contemporary geopolitical realities, and mak- ing its functioning more transparent and accountable. “The wider UN membership is an important stake- holder on all Security Council matters. Denying access to historical and contemporary documents and main- taining the rules of procedure at a provisional status are not tenable in this age. The working methods must be re- fashioned appropriately in tune with our times”, he said. Ambassador Parvathaneni further stated, “The UN Security Council must be a living instrument, not a fossil. More than any other member state, the permanent mem- bers must deliberate on this matter.” The Ambassador highlighted how the present-day geopolitical developments have strained multilateralism, thus growing concerns towards the legitimacy, efficacy and relevance of the United Nations. He noted that while the UN Charter had mandated a review conference in 1955, no such review was ever undertaken. He said that aside from limited institutional changes in the 1960s and 1970s, the Council’s core power structure has remained virtually untouched for eight decades. Calling the current arrangement outdated, Par- vathaneni compared the UN’s architecture to “running advanced AI technologies on a 1945 computer,” arguing that an institution designed for the realities of the mid- 20th century cannot effectively respond to the complexi- ties of the 21st. He said the lack of progress in intergovernmental negotiations on Security Council reform reflected en- trenched resistance to change, but warned that refusing to adapt would only weaken the UN’s authority, credibil- ity and effectiveness. India also flagged what it called a persistent problem of “double standards” within the international system, saying global institutions suffer not only from inconsis- tent application of principles but also from a widening gap between words and action. Stronger multilateral- ism, he said, cannot be built through power politics alone but through cooperation, compromise and a genuine commitment to collective global good. “Brute force and power do not deliver stronger multi- lateralism or global public good. The spirit of cooperation and ability to make compromises for greater global good must be demonstrated and acted upon”, he said in his remarks. - ANI UN Security Council Must Be A Living Instrument, Not A Fossil: India Renews Call For Reforms, Expansion PHOTO:COURTESY ANI India’s Permanent Representative to the UN Ambassador Harish Parvathaneni. A n Illinois man of Indian origin was sentenced in federal court May 21, 2026, to 15½ years in prison without parole for taking part in an elder fraud conspiracy in which victims liquidated savings and retirement accounts to buy gold bars, coins, and cash. Twelve victims identified to date lost over $6 million in the scheme, a press release from the U.S. Attorney’s Office, Western District of Missouri, said. Syed M. Makki, 38, a citizen of India, acted as a courier for the conspiracy, in which he picked up gold bullion and cash from victims throughout the country and delivered it to co-conspirators. United States District Judge Greg Kays also ordered Makki to pay $4,754,000 in restitution and ordered forfeiture of the gold bars, plus a money judgment. From 2023 through March 31, 2024, conspirators put malware on people’s computers with a phone number to call. When the victims called, they falsely represented themselves as ‘Microsoft’ employees, banking officials, government employees, and law enforcement officers. The conspirators convinced the victims, who were elderly, that their identities had been compromised, and that their money was not safe in banks. Having established relationships with the victims, who ranged in age from 61 to 80 years old, the perpetrators had the victims liquidate bank and retirement accounts and buy gold bullion in the form of gold bars or gold coins with the pro- ceeds. When the gold was delivered to the victims’ houses, conspirators directed the victims to provide the gold for ‘safekeep- ing’ to a co-conspirator, including Makki. Sometimes conspirators instructed the victims to package the gold and ad- dress it to the ‘Department of Justice’ in the name of a specific person, to further the false impression that victims were dealing with trustworthy officials. Makki and others picked up the gold or cash and then transported it across state lines to co-conspirators. On March 25 and 26, 2024, Makki picked up 16 gold bars, weighing one kilo- gram apiece and worth more than $1 mil- lion, from victims in Littleton, Colo. and Kansas City, Mo.. On March 27, 2024, he transported the gold bars to Ill. to deliver them to co-conspirators. That date, he was arrested in possession of the gold bars by a Morgan County, Ill., Deputy Sheriff and an Illinois State Highway Patrol Sergeant. Indian Resident Of Illinois Sentenced For Elder Fraud Conspiracy Involving Gold Bars By a StaffWriter