Ex-NFL Team Owner Reginald Fowler Pleads Guilty to Fraud Charges Related to $750 Million Cryptocurrency Transactions

97
SHARE

Crypto Capital is a payment processor that provided fiat-currency banking services to various cryptocurrency exchanges. It is operated by Israeli nationals Oz Yosef, Ravid Yosef, and others.

Fowler conspired with the Crypto Capital operators conspired to open numerous bank accounts in the United States and elsewhere. They falsely told banks that they will use the accounts primarily for real estate investment transactions.

In reality, Fowler and his co-conspirators used the bank accounts to provide shadow banking services to cryptocurrency exchanges. They fraudulently processed transactions totaling approximately $750 million in deposits and withdrawals from cryptocurrency exchanges.

Additionally, Fowler directed other individuals to include false information to deceive banks that the wire transfers were related to real estate transactions.

Fowler and his co-conspirators operated an unlicensed money transmitting business in the Un ited States.

Furthermore, Fowler defrauded the Alliance of American Football (AAF). He falsely told AAF executives that he owns the assets held in Crypto Capital and GTS bank accounts and he is free to use those assets to invest in AAF. He acquired a significant stake in AAF but failed to fund that investment, which contributed to the demise of the league.