Damian Williams, the United States Attorney for the Southern District of New York, announced today that REGINALD FOWLER was sentenced to 75 months in prison for arranging to process more than $700 million of unregulated transactions on behalf of cryptocurrency exchanges, in violation of federal anti-money laundering laws, lying to U.S. banks to do so, and defrauding the Alliance of American Football (“AAF”), a short-lived professional football league, in connection with his acquisition of a significant ownership stake in the league.
U.S. Attorney Damian Williams said: “Reginald Fowler evaded federal law by processing hundreds of millions of dollars of unregulated transactions on behalf of cryptocurrency exchanges as a shadow bank. He did so by lying to legitimate U.S. financial institutions, which exposed the U.S. financial system to serious risk. He then victimized a professional football league by lying about his net worth in exchange for a substantial portion of the league. Let it be clear: this Office is committed to prosecuting people who lie to banks and skirt the law as a means to conduct their business.”
According to court filings and statements made in court proceedings:[1]
In or about February 2018, REGINALD FOWLER established Global Trading Solutions LLC (“GTS”) and began working with Crypto Capital and other related companies (the “Crypto Companies”), which were operated by Israeli nationals. The Crypto Companies marketed themselves as providing a seamless...
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