6 years in prison for entrepreneurs from Arizona because he offered shadow bank services for crypto exchanges

6 years in prison for entrepreneurs from Arizona because he offered shadow bank services for crypto exchanges

A joint investigation of the FBI's money laundering department and the Criminal Police of the Internal Revenue Service led to a 75-month prison sentence for the 64-year-old entrepreneur Reginald Fowler from Arizona.

Fowler, a former co-owner of the professional American football team Minnesota Vikings, also asked by the court to refer $ 74.02 million and a reimbursement of $ 5.31 million to the Association of American Football (AAF), one short-lived American football club, to pay small league.

The indictment was headed by the Department of Money Laundering and Transnational Criminal Companies from the US public prosecutor.

Offer of Shadow Bank Services

Damian Williams, US prosecutor, Southern District of New York (SDNY)) in a PR on June 5th, called" True "> As a payment processor, transactions worth almost $ 750 million went off for cryptocurrency exchanges, while his company did not have global trading solution on the license for money transfer transactions required by US federal laws. In doing so, he also bumbled US banks.

"Fowler also indicated other people to include incorrect information in transfer instructions in order to continue to deceive the banks about the type of business of GTS. In less than ten months, Fowler has dealt with around $ 750 million in crryptocurrency transactions in various currencies," says the PR of the law firm.

was the American Football League

He was also found to be guilty of fraud at the Association of American Football, in which he acquired a significant part by viewing customer funds and seeing them as his personal assets.

"When he opened the bank account, Fowler bumbled off the AAF managers and told them that the funds on the GTS bank accounts came from real estate investments and government contracts and that the dozens of millions of dollars are on the GTS accounts" He could invest in AAF ", said Williams.

partly due to Fowler's lies, the AAF reported bankruptcy in April 2019.

up to date via crypto crime

In view of the increasing number of cryptocurrencies in connection with cryptocurrencies, the US Justice Ministry (DOJ) formed the "National Cryptocurrency Enforcement Team" in September 2022. Eun Young Choi, public prosecutor for cyber security, heads the team of 150 prosecutors.

In May a Russian man Calculated Data Preserver-Spaces = "True"> from the US Cessation Ministry to Three Ransomware Gang Police authorities, hospitals and schools generated almost $ 200 million

.