Sioux Falls crypto investor Benjamin Paul Wiener indicted on 29 counts over alleged $20 million fraud

Benjamin Paul Wiener, a Sioux Falls, South Dakota, resident, has been indicted on 29 counts tied to an alleged Ponzi-style fraud that prosecutors said caused about $20 million in investor losses involving cash and digital assets. Federal investigators said Wiener used the Benaiah entities, which he founded or controlled from at least 2018, to market hedge fund-like investment opportunities focused primarily on digital assets, raising about $25.1 million, returning roughly $12 million to investors in payments that prosecutors said helped sustain the scheme, and transferring around $5.7 million directly to Wiener for personal use. The charges include wire fraud, money laundering, bank fraud and aggravated identity theft, including an allegation that in April 2025 he obtained a $1 million bank line of credit using falsified documents and another person's identity. Wiener pleaded not guilty at his July 10, 2026 arraignment, was released on bond and is scheduled to stand trial on Sept. 15, 2026. The U.S. Attorney’s Office said the indictment is a formal accusation, not a finding of guilt, and Wiener is presumed innocent unless and until proven guilty. Investor complaints mounted by mid-2025, a receiver was appointed in August 2025 to examine the Benaiah entities, and separate civil litigation, including a reported suit by a Florida trust and a 2025 federal civil case in South Dakota, is also proceeding.