Woofun AI reports that a federal grand jury has indicted Benjamin Paul Wiener, a 43-year-old cryptocurrency investor from Sioux Falls, South Dakota, on 29 counts. The charges include wire fraud, money laundering, bank fraud, and aggravated identity theft, involving approximately $20 million in losses affecting dozens of investors across South Dakota and Minnesota.

Prosecutors allege Wiener used eight controlled entities to solicit funds through false statements, subsequently moving assets via banks and exchanges for personal use while employing new investor capital to repay earlier participants in a Ponzi structure.

Additionally, he is accused of fraudulently securing a $1 million line of credit in April 2025 through forged documents and identity theft. Wiener has pleaded not guilty and been released on bail, with trial scheduled to commence on September 15.