EXW Ponzi founder Benjamin Herzog was
sentenced to five years in prison
in October 2024.
Counting time served, Herzog only spent a few months in prison. In April 2025 Herzog was released under monitoring supervision.
Under this arrangement Herzog was able to work again, and
reportedly
had been at a warehouse up until a few weeks ago.
Earlier this month Herzog was arrested and presented before Klagenfurt Court.
Public Prosecutors allege that Herzog and several unnamed accomplices were behind the collapsed PrivaFund Ponzi scheme.
Through
EXW
, Herzog defrauded ~40,000 investors out of 25 million euros. Through PrivaFund, Herzog now stands accused of defrauding ~7500 investors out of 12 million euros.
PrivaFund was an MLM crypto Ponzi launched in 2021. The scam was a typical “trading ruse” Ponzi.
Instead of fronting PrivaFund himself, Herzog hid behind an actor playing fictional CEO Stephen H. Rowe.
News of the Austrian investigation into PrivaFund broke in November 2023. Herzog’s attorney has already filed an appeal against his PrivaFund criminal case.
Thus far, the only
judicial update we have
is the Graz Higher Regional Court ruling the PrivaFund case will not take place in Klagenfurt.
Separately, on September 18th,
Kleine Zeitung reported
Herzog’s supervised release was revoked for suspected recovery scamming.
The prison’s reasons for revoking his electronically monitored house arrest fit the image of the man he presented during the fraud trial: The Carinthian had set up his own website and offered his knowledge of cryptocurrencies, ostensibly to help victims of fraud. He also gave an interview to a magazine.
Pending further updates on proceedings, stay tuned.
🤖 Quick Answer
Who is Benjamin Herzog and why was he arrested in 2025?Benjamin Herzog is the founder of the EXW Ponzi scheme, which defrauded approximately 40,000 investors of 25 million euros. After serving a reduced portion of a five-year prison sentence and being released under monitoring supervision in April 2025, Herzog was rearrested on charges related to the collapsed PrivaFund Ponzi scheme.
What is PrivaFund and how much money was allegedly stolen?
PrivaFund was a multilevel marketing cryptocurrency Ponzi scheme launched in 2021. Public prosecutors allege that Benjamin Herzog and several unnamed accomplices defrauded approximately 7,500 investors of 12 million euros through the platform before it collapsed, leading to criminal charges filed in Klagenfurt Court.
**How does the PrivaFund case relate to the
📰 Aggiornamenti e Notizie Correlate
(aggiornato al 17/04/2026)1. Ben & Jerry’s co-founder arrested after Senate protest - NBC News — Thu, 15 May 2025 05:09:30 GMT
Vance touts digital currency as Democrats criticize Trump’s crypto push ## Trump defends massive tax-cut and spending bill after Musk’s criticism ## Lawyers question arrest timing in NYC crypto kidnapping case ## Vance says crypto is 'improving the wellbeing' of Americans ## Mother and daughter g…
2. Harvard Business School graduate arrested on charges he cheated fellow alums out of over $4 million - AP News — Thu, 18 Sep 2025 21:45:00 GMT
Israel-Hamas war Russia-Ukraine war Español China Asia Pacific Latin America Europe Africa Israel-Hamas war Russia-Ukraine war Español China Asia Pacific Latin America Europe Africa Israel-Hamas war Russia-Ukraine war Español China Asia Pacific Latin America Europe Africa NEW YORK (AP) — A Harvard B…3. Harvard Business School graduate arrested on charges he cheated fellow alums out of over $4 million - WTOP — Thu, 18 Sep 2025 22:22:36 GMT
A Harvard Business School graduate was arrested Thursday on fraud charges alleging he swindled fellow alumni of the prestigious school out of over $4 million in a Ponzi scheme, even assuring one investor they would soon “brag” about their “crazy gains” at the school's reunion. NEW YORK (AP) — A Harv…4. "Judge Shuts Down Crypto Fraud, Orders $228M Returned to Trust-Exploited Investors" - AInvest — Wed, 20 Aug 2025 10:26:50 GMT
- A U.S. judge ordered Eddy Alexandre and EminiFX to pay $228.5M in restitution for a crypto Ponzi scheme defrauding 25,000+ investors via fake 5-9.99% AI return promises. A federal judge in New York has ordered Eddy Alexandre and his company EminiFX to pay $228.5 million in restitution to victims o…5. HashFlare founders given time served for $577M crypto Ponzi - Cointelegraph — Wed, 13 Aug 2025 02:35:22 GMT
HashFlare founders given time served for $577M crypto Ponzi HashFlare co-founders Sergei Potapenko and Ivan Turõgin were given time served for admitting their roles in a $577 million scheme; prosecutors say they’re weighing an appeal. HashFlare founders given time served for $577M crypto Ponzi The…
6. SEC Unplugs Texas Crypto Miner, Alleging $5.6 Million Ponzi Scheme Fueled by Lavish Spending - WebProNews — Mon, 26 Jan 2026 13:20:07 GMT
The SEC has charged Geosyn Mining and its founders with orchestrating a $5.6 million Ponzi scheme, luring investors with promises of high returns from crypto mining rigs that barely existed. The U.S. Securities and Exchange Commission has leveled fraud charges against a Texas-based crypto asset mini…🔗 Related Articles
- Antares Trade recovery scam Ponzi warning from Russia
- PRP Life pyramid fraud warning from Russia
- BG Wealth Sharing & DSJEX fraud warnings from Canada (BC)
- AMF secures InovoCB securities fraud order in Canada
- Loanledger pyramid fraud warning from Russia