Crypto’s money mule Reggie Fowler asks court for no time behind bars
Reginald Fowler, the former principal for crypto’s shadow bank of choice, Crypto Capital Corp, gave a sobering account of his personal hardships to court officials, in a bid to receive a lighter prison sentence that would see him spend no time behind bars.
Fowler pled guilty to numerous counts of bank fraud, wire fraud, and operating an unlicensed money transmitter last April. A previous set of lawyers withdrew from representing him in November due to unpaid bills — Fowler’s assets were frozen by the Department of Justice.
During his time out on bail, however, the once part-owner of the Minnesota Vikings has gambled away hundreds of thousands of dollars. His bail conditions had to be recently modified to ban him from gambling further.
The series of exhibits and accounts that lawyers of the 62-year-old filed on April 10 made the case that Fowler was a victim of lifelong circumstance. They argued he had a childhood riddled with no proper parenting and that racism drove him to build his own businesses.
Read more: The rise and fall of Crypto Capital Corp, crypto’s premiere shadow bank
Fowler’s friends and family said that Reggie is a local community hero, who’s conducted himself with “dignity and grace” despite the loss “of two of his siblings in the past two years.” His surviving siblings and aging mother suffer from mounting health problems, they described.
- Fowler is not the only principal at Crypto Capital Corp to face accusations of financial fraud.
- Fellow principal Ivan Manuel Molina Lee was arrested in Greece and extradited to Poland to face charges of money laundering for cartels.
- Crypto Capital Corp was used by crypto firms like QuadrigaCX, Kraken, Bitfinex, and Tether.
Many of the descriptions of Fowler paint the picture of a know-it-all businessman with an inscrutable record — an image that’s nearly impossible to match with the man who pled guilty of bank fraud, wire fraud, and who, according to his own lawyers, helped “run hundreds of millions of dollars through his bank accounts.”
However, some of the individuals vouching for Fowler also admitted to unfamiliarity with the intricacies of the charges against him. Some statements from friends and family said, “I do not understand the basics or complexities of this case.”
The standard prison time for the charges Fowler faces amount to at least 15 to 20 years. His lawyers have asked for eight to 10 years and no time behind bars whatsoever, as Fowler is a first-time offender.
Sentencing is set to take place on April 20.
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