South Dakota Crypto Investor Charged with $20 Million Investment Fraud on July 10

According to the U.S. Attorney's Office for the District of South Dakota, Benjamin Paul Wiener, 43, was charged on July 10 with operating a $20 million cryptocurrency investment fraud and money laundering scheme. Wiener was indicted on 29 counts including wire fraud, money laundering, bank fraud and aggravated identity theft.

Prosecutors allege that Wiener used eight entities—including Benaiah Capital LLC, Benaiah Holdings Inc. and others—to solicit investments through false statements about fund usage. He allegedly moved money through banks and cryptocurrency exchanges to conceal its source, then used new investor funds to repay earlier participants in a structure resembling a Ponzi scheme. The alleged scheme affected dozens of victims in South Dakota, Minnesota and surrounding regions. Wiener also faces a separate charge related to obtaining a $1 million bank line of credit using falsified documents. His trial is scheduled for September 15, 2026.