Key Takeaways
- • Benjamin Paul Wiener, a 43-year-old Sioux Falls, South Dakota crypto investor, was indicted on 29 federal counts including wire fraud, money laundering, bank fraud, and aggravated identity theft over an alleged $20 million investment fraud scheme.
- • Wiener appeared before U.S. Magistrate Judge Veronica L. Duffy on July 10, 2026, and pleaded not guilty to all charges; trial is scheduled for September 15, 2026.
- • The indictment alleges Wiener made materially false statements to induce victims to invest in his companies, then moved the funds to conceal their source, ownership, and location, affecting dozens of victims across South Dakota and Minnesota.
- • Maximum penalties include 20 years imprisonment for wire fraud and money laundering, 30 years for bank fraud, plus mandatory consecutive two-year minimum for aggravated identity theft, plus fines up to $1.25 million and mandatory restitution.
- • The case reflects ongoing regulatory enforcement against cryptocurrency-related fraud schemes targeting retail investors across regional markets.
Summary
The U.S. Department of Justice announced the indictment of Benjamin Paul Wiener, age 43, a Sioux Falls resident, on 29 federal counts stemming from an alleged $20 million investment fraud scheme. United States Attorney Ron Parsons disclosed the grand jury indictment, which charges Wiener with wire fraud, money laundering, bank fraud, and aggravated identity theft. Wiener appeared before U.S. Magistrate Judge Veronica L. Duffy on July 10, 2026, and entered a not guilty plea to all counts.
According to the indictment, Wiener orchestrated a fraudulent scheme designed to obtain money and digital currency from victims through his companies. The scheme involved making materially false statements and fraudulent representations to induce investors to commit capital to his entities. Following receipt of victim funds, Wiener allegedly transferred the money through various channels to obscure its location, source, ownership, and control—tactics consistent with money laundering operations. The fraud has impacted dozens of victims throughout the region, including South Dakota and Minnesota residents.
The federal charges carry substantial penalties. Wire fraud and money laundering each carry maximum sentences of 20 years imprisonment, $250,000 fines, three years supervised release, and $100 Federal Crime Victims Fund assessments. Bank fraud carries a more severe maximum of 30 years imprisonment, $1 million fine, five years supervised release, and $100 assessment. Aggravated identity theft carries a mandatory minimum consecutive sentence of two years in addition to sentences on other counts. Restitution to victims is also likely upon conviction. The trial is set for September 15, 2026, with jurisdiction in the District of South Dakota.
According to the indictment, Wiener orchestrated a fraudulent scheme designed to obtain money and digital currency from victims through his companies. The scheme involved making materially false statements and fraudulent representations to induce investors to commit capital to his entities. Following receipt of victim funds, Wiener allegedly transferred the money through various channels to obscure its location, source, ownership, and control—tactics consistent with money laundering operations. The fraud has impacted dozens of victims throughout the region, including South Dakota and Minnesota residents.
The federal charges carry substantial penalties. Wire fraud and money laundering each carry maximum sentences of 20 years imprisonment, $250,000 fines, three years supervised release, and $100 Federal Crime Victims Fund assessments. Bank fraud carries a more severe maximum of 30 years imprisonment, $1 million fine, five years supervised release, and $100 assessment. Aggravated identity theft carries a mandatory minimum consecutive sentence of two years in addition to sentences on other counts. Restitution to victims is also likely upon conviction. The trial is set for September 15, 2026, with jurisdiction in the District of South Dakota.
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