26th April 2022 – (New York) Reginald Fowler, a businessman who was one of the early investors in a failed professional football league called the Alliance of American Football pleaded guilty Monday to charges accusing him in a US$600 million cryptocurrency scheme.
Reginald Fowler was charged with bank fraud, wire fraud and other offenses that prosecutors say contributed to the AAF’s quick demise in 2019.
Reginald Fowler, the alleged operator of Crypto Capital Corp., the shadow bank that lost hundreds of millions of crypto exchange Bitfinex’s money, pleaded guilty to charges of bank fraud, wire fraud and conspiracy on Monday.
- Fowler, a former football player, was facing a maximum of 90 years in prison.
- He was initially arrested in April 2019 and planned to plead not guilty, but then changed it to one guilty plea of operating an unlicensed money transmitter.
- He then withdrew his offer after being faced with having to repay nearly $400 million. As a result, Federal authorities slapped him with additional charges.
- As of July 2021, the parties were not involved in plea negotiations, but a February 2022 trial date was set. That trial date was subsequently changed to May 16, 2022.
- Last week, Fowler’s attorney said he would be willing to skip the trial and enter a plea