Suspect Indicted for Bitfinex Case Has 56 Accounts at Top Global Banks

According to a filing today, Reginald Fowler, the ex-Minnesota Vikings owner, stashed funds over a bank's global network accounts.

By · Aug 28, 2020 . 6min read

Bitfinex Case

Reginald Fowler, the ex-Minnesota Vikings owner, charged by U.S. prosecutors of running a cryptocurrency “shadow bank”. The former stashed funds over a bank’s global network accounts, according to a filing today. Prosecutors state that the funds are subject to forfeiture. Reginald Fowler is a 60-year-old Arizona businessman who once had a small stake in the NFL’s Minnesota Vikings. The indictment includes an Israeli woman named Ravid Yosef along with Fowler for operating an unlicensed money transmitting operation. Moreover, it was bound to virtual currency trading.

According to people familiar with the matter, the indictment involved Fowler and a firm, Global Trading Solutions LLC. It had direct links with Crypto Capital. The charge records the seizure of money in bank accounts presented by Fowler and Global Trading Solutions.

Reginald Fowler Associated with Bitfinex Missing Funds

According to Feds, Fowler has access to $350 million stashed in some 60 bank accounts worldwide. Additionally, Fowler links to the missing $850 million that crypto exchange, Bitfinex has been accused of hiding. The exchange managed the money deposited with Panamanian payment processor Crypto Capital Corp. It was then seized by law enforcement in the US, Poland, and Portugal without Bitfinex’s fault. 

On April 26, 2019, the lawsuit filed by New York Attorney General Letitia James explains how Bitfinex and Crypto Capital got involved. She alleged that Bitfinex was unable to access about $850 million in client and corporate funds. Thus, it arranged for a loan from Tether Ltd., which is controlled by the same group of executives as Bitfinex. 

The latest court document is part of a superseding indictment filed against Fowler in a Manhattan court in February. It added a fifth charge of wire fraud and demanded that he received money through “false and fraudulent pretences”. He used it to finance a professional sports league. Additionally, the Bill of Particulars lists 56 bank accounts at some of the world’s top financial institutions, including, Bank of America, Bank of the Philippine Islands, Canadian Imperial Bank of Commerce, Caixa Bank, Citibank, Deutsche Bank, Enterprise Bank, HSBC, JP Morgan Chase, Santander UK, Suntrust Bank, and Wells Fargo.

The court filing also names two other defendants, “Oz Yousf” a principal at Crypto Capital, and his sister Ravid Yosef, Fowler’s alleged “co-conspirator”. Oz was indicted on three criminal counts last year following the arrest of the president of Crypto Capital.

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