Fraud investigation into Sioux Falls hedge fund and its founder expands
More than a dozen companies related to Benjamin Wiener, Benaiah Holdings in probe
Federal authorities believe a South Dakota hedge fund manager accused of defrauding clients out of tens of millions is hiding cash from investigators.
A U.S. District Court judge this week broadened the investigation into Sioux Falls-based Benaiah Holdings after a federal probe launched in August determined “imminent danger” of its founder sheltering assets.
Judge Camela Theeler issued the order expanding the role of a receiver at the request of a court receiver appointed in August after multiple legal complaints from former investors of Benaiah and its founder, Benjamin Wiener, accused of bilking millions in a cryptocurrency Ponzi scheme.
