Benjamin Paul Wiener, a Sioux Falls, South Dakota resident, was charged with wire fraud, money laundering, bank fraud, and aggravated identity theft by the U.S. Attorney's Office for the District of South Dakota. Federal prosecutors allege Wiener operated a cryptocurrency investment scheme that caused approximately $20 million in losses for investors. Authorities say Wiener used false statements and fraudulent representations to persuade victims to invest money and digital currency into companies he controlled, then moved the funds through financial institutions and cryptocurrency exchanges to conceal their origin and destination. The charges follow an investigation into a scheme that affected dozens of victims across South Dakota and Minnesota.
Wiener Allegedly Used Multiple Entities to Execute Fraud Scheme
Authorities say Wiener operated the alleged fraud and money laundering scheme through several entities, including Benaiah Capital LLC, Benaiah Holdings, Benaiah Digital Fixed Income LP, Benaiah Digital LP, Benaiah Management Company, Benaiah Enterprises, Aslan Management, LLC, and Runway Four10. Prosecutors allege Wiener moved investor funds through these entities and cryptocurrency exchanges to hide the source, control, and destination of the money. The scheme affected dozens of victims across the region, including individuals in South Dakota and Minnesota.
Prosecutors Allege Ponzi-Style Operations and Personal Spending
Federal prosecutors say Wiener used the proceeds from the scheme to cover up the fraud and pay for personal expenses. Authorities allege that when investor funds ran low or when an investor requested their money back, Wiener sought new investors and used the new funds to pay earlier investors and continue spending on himself. Prosecutors say this pattern is consistent with a Ponzi-style operation.
Wiener Obtained $1 Million Credit Line in April 2025 Using Falsified Documents
In April 2025, Wiener allegedly obtained a $1 million line of credit from a financial institution in Sioux Falls by submitting falsified documents, information, and correspondence to the bank. Authorities say he also used another person's personal identifying information without authorization to secure the credit line. This incident forms part of the bank fraud and aggravated identity theft charges.
Wiener Faces 29 Counts and Potential Decades in Prison
Wiener is charged with 29 counts across wire fraud, money laundering, bank fraud, and aggravated identity theft. If convicted, he faces decades in prison and more than $1 million in fines, according to the U.S. Attorney's Office for the District of South Dakota.
FAQ
What did Benjamin Paul Wiener allegedly do?
Federal prosecutors allege Wiener operated a cryptocurrency investment scheme that caused approximately $20 million in losses. Authorities say he used false statements to persuade victims to invest money and digital currency into companies he controlled, then moved the funds through financial institutions and cryptocurrency exchanges to conceal their origin and destination.
Which entities did Wiener allegedly use in the fraud scheme?
Authorities say Wiener used several entities to carry out the alleged fraud and money laundering scheme, including Benaiah Capital LLC, Benaiah Holdings, Benaiah Digital Fixed Income LP, Benaiah Digital LP, Benaiah Management Company, Benaiah Enterprises, Aslan Management, LLC, and Runway Four10.
What charges does Wiener face?
Wiener is charged with 29 counts, including wire fraud, money laundering, bank fraud, and aggravated identity theft. If convicted, he faces decades in prison and more than $1 million in fines.
