A US government attorney has urged the courts to impose a seven-year prison sentence on Reginald Fowler, the soccer player who co-runs the shadow bank known as Crypto Capital Corp.
Sentencing is scheduled for Thursday against Fowler, who formerly owned the National Football League’s Minnesota Vikings. Government Attorney Damian Williams wrote in a filing To Justice Andrew Carter:
The government therefore respectfully requests that the court impose a minimum prison sentence of 84 months, below the applicable guideline range of 188 to 235 months, to reflect the seriousness of the crime, the need to promote respect for the law, and liability as an appropriate specific and general deterrent.
source: Court filing
Williams is also seeking a judge’s order to forfeit about $740 million. In addition, attorney Fowler alleges defrauding the AAF, thus seeking compensation of approximately $53 million to the AAF trustee.
Reginald Fowler’s Crypto Capital Corp stole $850 million from Bitfinex
BeInCrypto reports that cryptocurrency exchange Bitfinex has partnered with Fowler’s Crypto Capital as it was unable to find a reputable bank to work with. Later, Bitfinex lost $850 million due to the Crypto Capital scam and used Tether reserves to cover the lost funds.
Bitfinex then publicly repaid the amount to its sister company, Tether, in several installments to reduce the negative publicity. Finally, in February 2021, the exchange fully recouped its losses of $850 million.
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