Reginald Fowler, one of the co-founders of Crypto Capital, is expected to change his plea in front of the court to “guilty” for the charges brought against him.

The revelation was made in a letter written by two assistant US attorneys, Jessica Fender and Sheb Swett, on behalf of US attorney Geoffrey Berman.

“...it is anticipated that defendant Reginald Fowler will enter a change of plea at the next court conference,” the letter stated.

The hearing of the case has been postponed to January 10 from January 8 next year by the presiding US district court judge Andrew Carter.

Shadow banking services for crypto exchanges

The US authorities arrested Fowler earlier this year for his involvement in running a shadow banking service for crypto businesses. He was charged with bank fraud and conspiracy to commit bank fraud along with charges for operating an unlicensed money-transmitting business and conspiracy.

Similar charges were brought against Ravid Yosef, the other co-founder of Crypto Capital and Fowler’s business partner, however, she is still at large.

Per the prosecutors, the duo opened accounts in several banks and financial institutions on behalf of crypto exchanges, but they were informed that the accounts were for real estate transactions. The involved sum ranged in hundreds of millions of US dollars.

Fowler, who was also a minority stakeholder at the National Football League’s Minnesota Vikings, plead not guilty to all charges in a court hearing in June.

Services used by major exchanges

The name Crypto Capital grabbed headlines after the New York attorney general’s office brought charges against Bitfinex and Tether for hiding $850 million in losses incurred due to its payment processor Crypto Capital.

Notably, the well-known clients of Crypto Capital include Bitfinex, QuadrigaCX, and CEX.io.

Reginald Fowler, one of the co-founders of Crypto Capital, is expected to change his plea in front of the court to “guilty” for the charges brought against him.

The revelation was made in a letter written by two assistant US attorneys, Jessica Fender and Sheb Swett, on behalf of US attorney Geoffrey Berman.

“...it is anticipated that defendant Reginald Fowler will enter a change of plea at the next court conference,” the letter stated.

The hearing of the case has been postponed to January 10 from January 8 next year by the presiding US district court judge Andrew Carter.

Shadow banking services for crypto exchanges

The US authorities arrested Fowler earlier this year for his involvement in running a shadow banking service for crypto businesses. He was charged with bank fraud and conspiracy to commit bank fraud along with charges for operating an unlicensed money-transmitting business and conspiracy.

Similar charges were brought against Ravid Yosef, the other co-founder of Crypto Capital and Fowler’s business partner, however, she is still at large.

Per the prosecutors, the duo opened accounts in several banks and financial institutions on behalf of crypto exchanges, but they were informed that the accounts were for real estate transactions. The involved sum ranged in hundreds of millions of US dollars.

Fowler, who was also a minority stakeholder at the National Football League’s Minnesota Vikings, plead not guilty to all charges in a court hearing in June.

Services used by major exchanges

The name Crypto Capital grabbed headlines after the New York attorney general’s office brought charges against Bitfinex and Tether for hiding $850 million in losses incurred due to its payment processor Crypto Capital.

Notably, the well-known clients of Crypto Capital include Bitfinex, QuadrigaCX, and CEX.io.