Reggie Fowler, a former NFL staff proprietor and the suspected “shadow banker” concerned within the Tether and Bitfinex saga, will lastly have his day in court docket as his trial is scheduled for early 2022.
Based on newly launched info, Fowler is accused of laundering cash for Colombian drug cartels, alongside offering unlicensed monetary companies to crypto corporations.
A take a look at the case in opposition to Fowler
In an August 4 court docket doc, the U.S. District Decide of the Southern District of New York, Andrew Carter, has set February 14, 2022, as jury choice and a trial date for the case. Nevertheless, the date is topic to alter due to pandemic-related restrictions.
On his connection to the case in opposition to Bitfinex and Tether, Fowler and his Crypto Capital agency have been alleged to have offered banking companies to the USDT dad or mum firm after Taiwan kicked out the agency.
Prosecutors say Bitfinex purchasers have been ordered to deposit into accounts carrying the identify of varied Crypto Capital-related corporations at monetary establishments throughout the globe. This, it was believed, resulted within the $850 million loss incurred by the Stablecoin dad or mum firm.
Nevertheless, whereas Bitfinex and Tether’s case have been in a position to attain an finish —New York authorities ordered the crypto corporations to pay a nice of $18.5 million and likewise shut its operation inside their jurisdiction— Fowler’s stays open. He had earlier rejected a responsible plea cut price that might have seen him pay a penalty of as much as $371 million, which the authorities allege are proceeds from the crime.
Based on the U.S. federal legal professional Audrey Strauss, the “events aren’t presently engaged in plea negotiations and don’t anticipate resuming negotiations.” This implies the case in opposition to Fowler is predicted to go trial on the aforementioned date
Recall that in April 2019, Fowler’s funds have been frozen by the Division of Justice after his indictment on cash laundering prices for cryptocurrency exchanges.
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