A crypto investor in South Dakota, United States, has been indicted on suspicion of a $20 million fraud and money laundering.

Wu Shuo learned that prosecutors in the U.S. state of South Dakota announced that a local 43-year-old crypto investor, Benjamin Paul Wiener, has been indicted by a federal grand jury on 29 counts, including alleged wire fraud, money laundering, bank fraud, and aggravated identity theft.

The indictment alleges that Wiener used multiple entities, including Benaiah Capital, to induce investors to put in funds through false statements, and to divert and launder the funds through cryptocurrency exchanges, resulting in an estimated loss of about $20 million.

In addition, Wiener was also accused of forging documents in April 2025 and using someone else’s identity information to obtain $1 million in credit from a financial institution in Sioux Falls.

Wiener has currently been released on bail, and the trial is scheduled for September 15, 2026.