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


Reggie Fowler, a former NFL staff proprietor and alleged “shadow banker” who may withstand 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 “unusually lengthy adjournment”, justifying it together with his “critical medical situation” in addition to with the need to acquire info related to the case from monetary establishments, entities, and people positioned in Europe.

In response to impartial journalist Amy Castor, who reported this growth, Sapone made his request on Sept. 10. — three days earlier than scheduled sentencing. Because the prosecutors didn’t protest the adjournment, it would grant Fowler a minimum of six months of freedom. He now resides in Arizona on bail.

The 63-year-old is being accused of working the shadow financial institution to the crypto sector, Crypto Capital, which was on the middle of controversy within the court docket case in opposition to iFinex Inc — the father or mother firm of crypto change Bitfinex and stablecoin issuer Tether. U.S. prosecutors allege that Fowler offered unlicensed money-transmitting companies 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 in opposition to Bitfinex and Tether, during 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 have been ordered to pay $18.5 million price of civil penalties and to close down buying and selling operations in New York.

Fowler, nevertheless, rejected a responsible 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 — because of the absence of well timed funds Fowler’s unique authorized staff shrank down to 1 lawyer, and the trial hearings would have requested important funds to cowl his work.

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