Crypto investor charged with using 8 companies and new investor cash to keep an alleged $20M fraud alive
Federal prosecutors allege Sioux Falls crypto investor Benjamin Paul Wiener ran a fraud and money-laundering scheme through eight business entities, moving investor funds through banks and cryptocurrency exchanges to hide their source, ownership, and control. The government estimates losses at about $20 million involving dozens of victims across the region, including South Dakota and Minnesota. A federal grand jury indicted Wiener in June on 29 counts, including wire fraud, money laundering, bank fraud, and aggravated identity theft. He pleaded not guilty on July 10, was released on bond, and is set for trial on September 15. Prosecutors say he made false claims to induce investments, used new investor money to pay personal expenses and earlier investors, and separately obtained a $1 million line of credit using falsified documents and another person’s identity.
