According to The Block, a U.S. federal grand jury has indicted South Dakota-based crypto investor Benjamin Paul Wiener on 29 charges, including wire fraud, money laundering, bank fraud, and aggravated identity theft. Prosecutors allege that Wiener collected investor funds and cryptocurrencies through eight entities and used funds from new investors to pay earlier investors, resulting in approximately $20 million in losses for dozens of victims in South Dakota and Minnesota. Wiener is also accused of forging documents and impersonating another individual in April 2025 to obtain a $1 million line of credit from a financial institution. He has pleaded not guilty to all charges and has been granted bail, with the case currently scheduled for trial on September 15.
U.S. crypto investor faces 29 charges in $20 million Ponzi scheme
TechFlowShare
Summary
A U.S. federal grand jury has charged Benjamin Paul Wiener, a crypto investor from South Dakota, with 29 counts including wire fraud, money laundering, and identity theft. Prosecutors allege that Wiener operated a Ponzi scheme across eight entities, diverting $20 million from investors in South Dakota and Minnesota. He is also accused of forging documents to obtain a $1 million credit line in April 2025. Wiener has pleaded not guilty and was released on bail. The trial is scheduled for September 15. The case underscores the risks inherent in liquidity and crypto markets, as regulators worldwide—including under MiCA (the EU Markets in Crypto-Assets Regulation)—intensify oversight.
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