International wire fraud and money laundering case wraps up in Sioux Falls

Local News

SIOUX FALLS, S.D. (KELO) — A trial with international implications has wrapped up at the federal courthouse in Sioux Falls. A jury found Nathan Peachey and John Winer guilty of numerous counts of wire fraud and money laundering.

According to court documents the two claimed to be collecting money for religious charities and humanitarian projects, and instead funneled millions of dollars through banks and international wire transfers.

The jury also decided they’ll have to forfeit property in Norway, a Mercedes and millions of dollars worth of silver coins.

Sentencing is scheduled for February 14th.

Two other men are accused in the case. One worked in Norway. The other is Frederick Arias – a former Arizona detective who is wanted by the FBI, and may have left the country. While the suspects aren’t from South Dakota, the case is being handled in Sioux Falls because the schemes involved South Dakota banks. Some of the victims were also in the state.

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