Post by Augustine Chiagozie (@pabloexchange)

⚖️ South Dakota man indicted on 29 counts over $20M crypto Ponzi scheme

A federal grand jury has indicted Benjamin Wiener of South Dakota on 29 counts including wire fraud and money laundering, alleging he ran a $20 million Ponzi scheme through his crypto entities operating under the "Benaiah" name.

The US Department of Justice says the scheme defrauded dozens of victims across the Midwest. Wiener faces a maximum of 30 years in prison if convicted on the most serious charges.

The case is part of continued federal enforcement action targeting fraudulent crypto investment operations in the United States.

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