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U.S. Prosecutor Seeks 7-Year Prison Sentence for Reginald Fowler

Reginald Fowler stands trial for allegedly giving crypto firms unauthorized access to the banking system.

By Finst News
• 3 min read
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U.S. Prosecutor Seeks 7-Year Prison Sentence for Reginald Fowler

Reginald Fowler is on trial for allegedly giving crypto firms unauthorized access to the banking system. Authorities are seeking a lengthy prison sentence.

In 2019, Reginald Fowler was arrested and charged with bank fraud, illicit money transfers, and conspiracy to participate in shadow banking. Tomorrow, April 20, a verdict is expected. The prosecutors are seeking seven years in prison.

Fowler founded a company called Global Trading Solutions (GTS) in 2018 under the umbrella of Panama-based Crypto Capital Corp. He is charged with deceiving financial institutions, operating as a money broker without a license, and giving crypto firms illegal access to the U.S. banking system.

Serious Crimes

Through Crypto Capital, he allegedly provided services to several crypto exchanges, including Bitfinex, Binance, CEX.io, and QuadrigaCX. "Reginald Fowler committed serious offenses. Only a substantial prison term of at least 84 months can reflect that gravity, uphold the rule of law, and provide adequate deterrence," said U.S. District Attorney Damian Williams.

Read also: Coinbase prepares for a legal dispute with the SEC

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