Benaiah Capital / Benjamin Wiener
Summary
Benjamin Paul Wiener, 43, of Sioux Falls, South Dakota, was indicted in June 2026 by a federal grand jury on 29 counts including wire fraud, money laundering, bank fraud, and aggravated identity theft. Prosecutors allege he raised approximately $25.1 million from dozens of investors through a cluster of eight entities — anchored by Benaiah Capital LLC and Benaiah Holdings, Inc. — while operating a classic Ponzi structure: using new investor funds to pay earlier investors and diverting an alleged $5.7 million to personal expenses. A parallel civil receivership proceeding, Kinnetz v. Benaiah Holdings (D.S.D. 4:25-cv-04134), was filed in July 2025 after the Benaiah entities collapsed following FBI and IRS raids. Wiener has pleaded not guilty and trial is scheduled for September 15, 2026.
Connected Entities
1 entities- + 4 more
Timeline(14 events)
2018-01-01
Benaiah entities begin operating, allegedly soliciting investors in digital asset funds. Exact formation dates of individual entities vary; the indictment alleges fraud 'since at least 2018.'
DOJ Press Release / Crypto Briefing2021-01-01
Timothy Kinnetz Revocable Trust (Florida) begins investing with Benaiah entities, ultimately committing $4 million.
Marshall Radio2024-12-01
Benaiah entities cease communication with at least one investor. Regular account statements, previously provided for approximately one year, stop.
Marshall Radio2025-03-01
Timothy Kinnetz accesses the fund's Kraken trading account and finds a balance of less than $600 — despite having committed $4 million in investments.
Marshall Radio2025-04-01
Wiener allegedly obtains a $1,000,000 bank line of credit by submitting falsified documents and using another individual's personal identifying information without authorization.
DOJ Press Release2025-06-01
FBI and IRS Criminal Investigation conduct raids on Benaiah's Sioux Falls office and Wiener's personal residence. The Benaiah entities collapse in the final days of June 2025.
Marshall Radio / The Dakota Scout2025-07-18
Timothy Kinnetz, as trustee of the Timothy A. Kinnetz Revocable Trust, files civil lawsuit (Case No. 4:25-cv-04134-CCT) in the U.S. District Court for the District of South Dakota against Benaiah Holdings, its affiliates, Wiener, Joshua DeWitt, and Christopher Hmielewski.
Justia Docket2025-08-15
U.S. District Judge Camela C. Theeler grants the Kinnetz Trust's expedited motion to appoint a receiver over the Benaiah entities, finding evidence of fraud and deceptive statements by Wiener. Court later expands receiver's authority to cover more than a dozen related companies citing imminent danger of asset concealment.
Leagle / The Dakota Scout2026-02-25
Court issues order granting motions by Keith McKinzie, Kyle McKinzie, and Kris McKinzie to intervene in the Kinnetz v. Benaiah Holdings civil proceeding.
Leagle2026-05-20
U.S. District Judge Theeler denies as moot several motions to dismiss and denies a motion to dismiss the First Amended Complaint, allowing the civil case to proceed.
Justia / CaseMine2026-06-01
Federal grand jury for the District of South Dakota returns a 29-count indictment against Benjamin Paul Wiener on charges of wire fraud, money laundering, bank fraud, and aggravated identity theft.
DOJ Press Release2026-07-10
Wiener appears before U.S. Magistrate Judge Veronica L. Duffy for arraignment, enters a not guilty plea, and is released on bond.
DOJ Press Release / DRG News2026-07-16
DOJ press release announces indictment publicly. Multiple media outlets report on the 29-count indictment and approximately $20 million in alleged investor losses.
DOJ / Multiple outlets2026-09-15
Trial date set in U.S. District Court for the District of South Dakota. Wiener remains presumed innocent.
DOJ Press ReleaseDecision Log
- #1publish⛓ pending7/25/2026, 11:12:57 PMhash: AoMXWSsj6oUCNUPN5YEcmBRUqq8xCvg8Us9fo7u2AYEz
model: claude-sonnet-4-6
generated: 7/25/2026, 11:12:47 PM
last updated: 7/25/2026, 11:12:57 PM
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