Reginald Fowler, the alleged operator of Crypto Capital Corp., the shadow bank that lost hundreds of millions of crypto exchange Bitfinex's money, pleaded guilty to charges of bank fraud, wire fraud and conspiracy on Monday.

Fowler, a former football player, was facing a maximum of 90 years in prison.
He was initially arrested in April 2019 and planned to plead not guilty, but then changed it to one guilty plea of operating an unlicensed money transmitter.
He then withdrew his offer after being faced with having to repay nearly $400 million. As a result, Federal authorities slapped him with additional charges.
As of July 2021, the parties were not involved in plea negotiations, but a February 2022 trial date was set. That trial date was subsequently changed to May 16, 2022.
Last week, Fowler's attorney said he would be willing to skip the trial and enter a plea.

$572 Million Lost to Hacks and Fraud in Q2 -Immunefi

00:52

Increasing Accumulation Addresses Show Bullish Sentiment in Bitcoin: CryptoQuant

00:52

Key Bitcoin Indicator Signals Period of Stability in Crypto Market

02:06

Eisenberg's $110M Fraud Trial Opens; FSI Calls for Consistency in Stablecoin Regulation

01:58

Bitcoin Price Shot Past $71K; Do Kwon and Terraform Labs Liable for Fraud in SEC Case

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Reggie Fowler Pleads Guilty in Crypto Capital Corp. Case Tied to Bitfinex's Missing Millions

The former football player was initially indicted on charges of banking fraud in 2019 and additional charges in 2020.

$572 Million Lost to Hacks and Fraud in Q2 -Immunefi