Wiener Charged in $20 Million Crypto Investment Scam

Federal prosecutors have charged crypto investor Benjamin Paul Wiener with orchestrating a scheme that caused approximately $20 million in losses across dozens of victims. The indictment includes 29 counts, including wire fraud, money laundering, bank fraud, and aggravated identity theft charges.

The alleged scam involved Wiener persuading investors to place money and digital assets into companies he controlled by making false statements. After depleting investor funds, Wiener allegedly sought fresh investments to finance personal spending and repay earlier participants.

The indictment also alleges that Wiener transferred investor funds through financial institutions and cryptocurrency exchanges to conceal their source, ownership, and movement. This mirrors tactics described in other cryptocurrency fraud prosecutions, where operators used new deposits to repay earlier investors while presenting legitimate investment returns.