Crypto Investor Wiener Indicted Over $20M Fraud, 29 Counts

If convicted, Wiener faces up to 20 years in prison for each count of wire fraud and money laundering, up to 30 years for bank fraud, and a mandatory consecutive two-year sentence for aggravated identity theft. The government may also seek restitution. His trial is scheduled to begin Sept. 15, 2026.

The case fits a broader pattern. The FBI reported more than $11.36 billion in cryptocurrency-related losses during 2025, a 22% jump from the previous year, while total internet crime losses approached $21 billion. An FBI report published in April showed that investment fraud accounted for the largest share of crypto losses, with victims averaging more than $62,000 across 181,565 complaints.

Federal investigators have also seized more than $25 million in cryptocurrency through five investigations into international fraud schemes linked to thousands of victims, illustrating how law enforcement traces funds across blockchain records, exchange accounts, and traditional bank wires.

The FBI's cryptocurrency investment fraud guidance advises investors to independently verify companies, investment professionals, custody arrangements, and withdrawal policies before sending funds. The agency also urges victims to preserve transaction records and communications and report suspected fraud to the Internet Crime Complaint Center as quickly as possible.