Reginald Fowler Pleading Guilty
The Co-Founder for Crypto Capital, Reginald Fowler, is changing his plea to the courts in the coming days. This information came from a letter that was written by two US Assistant Attorneys, which was done on behalf of Geoffrey Berman. The letter confirmed that Fowler will change his plea in accordance to his actions, which could be a ploy to delay the courts. His previous date was set to January 10th, 2020. It’s now been postponed until January 8th, 2021. This gives Fowler an additional thirteen months of freedom, where it’s expected that he will be imprisoned. Andrew Carter, a Court Judge for the US District Attorney’s Office, will complete this sentencing.
The Story
Reginald Fowler was arrested months ago by authorities in the United States. The criminal charges set against him came after he ran an illegal banking service with cryptocurrency technologies. This resulted in the authorities charging him with bank fraud and operating a money-transmitting service without the proper licenses. Fowler wasn’t the only individual arrested in connection to this illegal online bank. David Yosef, another founder of Crypto Capital, received similar charges from SEC.
Other Violators
These two individuals created multiple accounts with several financial institutions, which was done on behalf of various cryptocurrency exchanges. These accounts were maintained for real estate purposes and saw hundreds of millions in US Dollars being stolen. When Reginald Fowler was first found of these illegal actions, he plead not guilty. However, the Minnesota Vikings Stakeholder, is changing his accounts. Two of their largest contracts in the cryptocurrency market was Tether and BitFinex, who assisted Crypto Capital in hiding $850 million after these charges were revealed. Subsequently, they have also been charged by the US District Attorney’s Office.