Fowler Sentenced for Cryptocurrency Shadow Bank

Former Vikings Co-Owner Fowler Receives Prison Sentence for $700 Million Unlicensed Cryptocurrency Business

Reggie Fowler, former co-owner of the NFL's Minnesota Vikings, was sentenced to over 6 years in prison for a $700 million cryptocurrency scam.

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Fowler pleaded guilty to federal charges including wire fraud, bank fraud, and operating an unlicensed money transmitting business.

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Prosecutors said Fowler evaded laws by processing hundreds of millions in unregulated crypto transactions as an unlicensed shadow bank.

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He falsely claimed accounts were for real estate deals when they were for quick crypto transactions.

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In less than 10 months, Fowler processed around $750 million in crypto transactions without proper licensing.

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Fowler was also accused of defrauding the failed Alliance of American Football league in 2018 by lying about his net worth.

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He victimized the AAF by falsely claiming he had tens of millions in bank accounts and government contracts to fund the league.

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As part of his sentence, Fowler must forfeit $740 million and pay $53 million in restitution to the AAF.

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Previously, Fowler was a minority owner of the Vikings but gave up his stake in 2014 amid financial troubles.

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He still wanted to be in pro football and lied to invest in the AAF, showing his persistence despite previous legal and financial issues.

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