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Crypto Capital exec Reginald Fowler pleads guilty in fraud case

After filing for a plea change last week, Reginald Fowler pled guilty today to bank fraud, bank fraud conspiracy, operation of an unlicensed money transmitting business, conspiracy to operate an unlicensed money transmitting business and wire fraud. Fowler stood accused of engaging in “shadow banking” for cryptocurrency exchanges through his business Crypto Capital. The government alleges Crypto Capital operated as an unlicensed money transmitting business that misrepresented its crypto dealings to its banking clients. Fowler allegedly opened accounts with banks …

Crypto Capital exec plans to enter open plea in ongoing fraud case

Reginald Fowler, who sits at the center of a banking fraud case brought by the US government, is seeking to forego his right to trial. Fowler stands accused of engaging in “shadow banking” for cryptocurrency exchanges through his business Crypto Capital. The government alleges Fowler ran Crypto Capital with his partner Ravid Yosef as an unlicensed money transmitting business that misrepresented its crypto dealings to its banking clients. Additionally, “shadow banking” transactions like these can be a means of circumventing …