After filing for a plea change last week, Reginald Fowler pled guilty today to bank fraud, bank fraud conspiracy, operation of an unlicensed money transmitting business, conspiracy to operate an unlicensed money transmitting business and wire fraud. Fowler stood accused of engaging in “shadow banking” for cryptocurrency exchanges through his business Crypto Capital. The government alleges Crypto Capital operated as an unlicensed money transmitting business that misrepresented its crypto dealings to its banking clients. Fowler allegedly opened accounts with banks under false pretenses to store funds and process transactions for exchanges like Binance, Kraken and BitMEX. Fowler allegedly ran the business with partners Ravid Yosef and Oz Yosef, who both remain at large. At first, Fowler pled not guilty to the charges, but by 2020, it appeared he was attempting to change his plea to guilty. In 2021, he retained new counsel and then refiled for the plea change with a letter last week.
Read more : Crypto Capital exec Reginald Fowler pleads guilty in fraud case.
