Benjamin Paul Wiener, a 43-year-old from Sioux Falls, has been indicted on 29 federal counts for allegedly running a $20 million cryptocurrency fraud scheme that prosecutors say had all the hallmarks of a Ponzi. The indictment, handed up by a federal grand jury, charges Wiener with wire fraud, money laundering, bank fraud, and aggravated identity theft.
Eight entities, one alleged fraud
According to the indictment, Wiener solicited money and digital currency from investors through a network of eight companies, most of them carrying the name "Benaiah" — including Benaiah Capital LLC, Benaiah Digital LP, Aslan Management LLC, and Runway Four10. Prosecutors say he made false statements to lure in funds, then used money from new investors to pay returns to earlier backers while covering his own personal expenses. Dozens of victims across South Dakota and Minnesota were affected.
The bank fraud count
Beyond the investor scheme, Wiener is also accused of defrauding a Sioux Falls bank. Prosecutors allege he secured a $1 million line of credit by submitting falsified documents and using another person's identifying information without permission. He then moved funds through banks and cryptocurrency exchanges in an attempt to hide their source, according to the charges.
Plea and trial timeline
Wiener pleaded not guilty to all counts on July 10, 2025, and was released on bond. His trial is set for September 15, 2026. The charges remain accusations, and Wiener is presumed innocent unless proven guilty.
The case is part of a broader push by federal prosecutors. The Justice Department charged 265 fraud defendants in 2025 with intended losses exceeding $16 billion — a reminder that crypto-related fraud remains a priority for law enforcement.
