The legal team for Reginald Fowler said the former minority owner of the Minnesota Vikings is open to a guilty plea regarding his involvement in Crypto Capital’s alleged shadow banking practices, provided forfeiture is not part of the deal.
The company is a key player in the ongoing court case over Bitfinex’s failure to disclose the loss of $850 million in customer funds. The exchange claims the funds were deposited with Crypto Capital before being seized by government authorities in various countries.
According to Law360, Fowler’s lawyers stated that a January plea deal with the U.S. government “blew up” because it left the former NFL team owner on the hook for $371 million. The legal team made the comments during a phone status conference held on Oct. 15 in the Southern District of New York.
Authorities originally charged Fowler with bank fraud, illegal money transfers, and conspiracy connected to Crypto Capital’s alleged shadow banking practices in 2019, and later