A federal grand jury has indicted 43-year-old Benjamin Paul Wiener of Sioux Falls, South Dakota. He is charged with 29 counts in connection with an alleged fraudulent scheme that caused victim investors to lose approximately $20 million.
According to court documents, Wiener is charged with wire fraud, money laundering, bank fraud, and aggravated identity theft. Last week, he pleaded not guilty and was released on bond pending trial, which is scheduled for September 2026.
Scheme Structure and Involved Companies
Prosecutors allege that Wiener raised funds, including in cryptocurrency, through a network of eight companies. Most of them bore the name "Benaiah" — among them Benaiah Capital LLC and Benaiah Digital LP. Also involved are Aslan Management LLC and Runway Four10. According to the indictment, he misled investors by making false statements about returns and risks.
The victims, it is alleged, are located in South Dakota and Minnesota. After collecting the funds, Wiener, according to investigators, transferred them through banks and crypto exchanges to conceal the origin and true ownership. The prosecution compares the scheme to a classic Ponzi scheme: once funds ran out or investors demanded repayment, he recruited new participants, using their money to pay off previous investors and cover personal expenses.
Bank Fraud and Document Forgery
A separate episode involves the defrauding of a bank in Sioux Falls. In April 2025, Wiener opened a $1 million line of credit by forging documents and using someone else's identity without their knowledge. This indicates a systematic approach to deceiving financial institutions.
"According to authorities, the damage from Wiener's actions amounted to nearly $20 million," the U.S. Department of Justice said in a press release.
All charges remain allegations at this point: Wiener is presumed innocent until proven guilty in court. The hearing is scheduled for September 15, 2026.
Wiener's case adds to a growing number of proceedings involving investment fraud and the use of cryptocurrency to move funds. In 2025, the U.S. Department of Justice brought similar charges against 265 defendants, with total estimated damages exceeding $16 billion.
Expert Comment: This case is yet another reminder that cryptocurrency is not an anonymous haven for fraudsters. Regulators are actively tracking transaction chains, and attempts to conceal the origin of funds through mixers and exchanges are increasingly leading to criminal cases. Investors should be extremely cautious: if a scheme promises guaranteed returns, it is almost always a red flag.