DOJ · Federal Reserve (FED) · SEC · CryptoSlate
Crypto investor charged with tapping 8 companies and new investor cash to keep an alleged $20 million fraud alive
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Federal prosecutors say Sioux Falls crypto investor Benjamin Paul Wiener used eight entities in an alleged fraud and money-laundering scheme, then moved investor funds through financial institutions and cryptocurrency exchanges to conceal their location, source, ownership, and control.
Key facts
- Separately, the indictment alleges that Wiener obtained a $1 million line of credit from a Sioux Falls financial institution in April 2025 by falsifying documents, information and correspondence
- Prosecutors tied eight companies to the alleged fraud and money-laundering scheme: Benaiah Capital LLC; Benaiah Holdings, Inc
- The Justice Department announced on July 16 that a federal grand jury had indicted Wiener the previous month on 29 counts involving wire fraud, money laundering, bank fraud and aggravated identity
- The government estimates the alleged losses at approximately $20 million across dozens of victims
Summary
The government estimates the alleged losses at approximately $20 million across dozens of victims. The Justice Department announced on July 16 that a federal grand jury had indicted Wiener the previous month on 29 counts involving wire fraud, money laundering, bank fraud and aggravated identity theft. Wiener pleaded not guilty on July 10 before U.S. Magistrate Judge Veronica L. According to the indictment, Wiener made materially false statements and fraudulent representations to induce people to invest money and digital currency with his companies.