Accused ‘shadow banker’ Reggie Fowler seeks a 6-month sentencing delay


Reggie Fowler, a former NFL staff proprietor and alleged “shadow banker” who may resist 30 years of imprisonment, requested the court docket of the Southern District of New York for a six-month adjournment. 

Technically, it was Fowler’s lawyer Ed Sapone who requested an “unusually lengthy adjournment,” justifying it together with his “severe medical situation” in addition to with the need to acquire data related to the case from monetary establishments, entities and people positioned in Europe.

In response to unbiased journalist Amy Castor, who reported this improvement, Sapone made his request on Saturday — three days earlier than the scheduled sentencing. Because the prosecutors didn’t protest the adjournment, it is going to grant Fowler a minimum of six months of freedom. He now resides in Arizona on bail.

The 63-year-old is being accused of operating the shadow bank to the crypto sector, Crypto Capital, which was on the heart of controversy within the court docket case towards iFinex Inc — the mother or father firm of crypto trade Bitfinex and stablecoin issuer Tether. U.S. prosecutors allege that Fowler offered unlicensed money-transmitting providers to a number of crypto corporations, together with financial institution fraud and laundering funds on behalf of Columbian drug cartels.

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A case towards Bitfinex and Tether, by which iFinex was accused of commingling funds between the 2 corporations to cowl up an $850-million loss suffered by Bitfinex in its dealings with Crypto Capital, was settled in February 2022. The corporations had been ordered to pay $18.5 million value of civil penalties and to close down buying and selling operations in New York.

Fowler, nevertheless, rejected a guilty plea deal again in 2020, however surprisingly entered it in April 2022. In response to Castor, this twist could also be defined by monetary causes — as a result of absence of well timed funds Fowler’s unique authorized staff shrank down to at least one lawyer, and the trial hearings would have requested important funds to cowl his work.