Prosecutors Detail 'Shadow Bank' Accounts in Fowler Crypto Case

U.S. prosecutors have unveiled 56 bank accounts under scrutiny in Reginald Fowler's legal travails.

AccessTimeIconAug 27, 2020 at 8:51 p.m. UTC
Updated Sep 14, 2021 at 9:49 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Reginald Fowler, the ex-Minnesota Vikings owner accused by U.S. prosecutors of running a cryptocurrency "shadow bank," stashed funds over a global network of bank accounts, according to a filing today. Prosecutors say the funds are subject to forfeiture.

  • A Thursday filing New York Federal District Court lists 56 bank accounts at Citibank, Bank of America, Caixa Bank, HSBC, Bank of the Philippine Islands, Deutsche Bank and others, together holding an unknown amount of Fowler's and associated companies' funds.
  • Prosecutors have previously alleged those bank accounts to be the linchpin in a real estate investments scheme Fowler orchestrated as a front for under-the-table crypto exchange dealings.
  • Fowler's legal travails are of acute interest in the crypto community given his company's apparent ties to $850 million in crypto gone missing from the Bitfinex exchange.
  • Crypto Capital, the "shadow bank" Fowler is accused of running, held those funds in now-seized bank accounts, according to lawyers from Bitfinex.
  • The filing was first reported by Decrypt.

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.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.