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Former AAF & NFL Investor Reginald Fowler pleads guilty in 600 million dollar crypto scheme

Reginald Fowler has pleaded guilty to federal charges arising from an alleged cryptocurrency scheme

Reginald Fowler has plead guilty to a 600 million dollar cryptocurrency scheme.

Fowler was the lead investor behind the Alliance of American Football League that went under in it’s first year. According to Associated Press, Fowler “helped process hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges, skirting the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes.”

Reginald Fowler was charged with bank fraud, wire fraud and other offenses that prosecutors say contributed to the AAF’s quick demise in 2019.

Fowler, 63, of Chandler, Arizona, was once known for trying to buy the NFL’s Minnesota Vikings in 2005. Fowler did become a minority owner to the Vikings back in 2015.

This is a Federal Offense so it will be interesting to see what the court does with this case.

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