Former NFL team owner to serve 7 years in prison and forfeit $740M for aiding crypto exchanges in laundering money. Read more on CE.
- Former Vikings minority owner sentenced to 7 years for aiding crypto money laundering.
- Reginald Fowler pleaded guilty to 5 charges, including bank and wire fraud.
- Misrepresented funds led to Fowler’s investment stake in AAF, contributing to its collapse.
A recent Bloomberg report suggests that a former minority owner of the Minnesota Vikings football team will face seven years in prison, according to prosecutors who revealed the information to a federal judge in New York. The alleged owner will also forfeit more than $740 million for his role in assisting cryptocurrency exchanges in circumventing anti-money laundering regulations.
According to the report, former minority shareholder, Reginald Fowler, is scheduled to be sentenced by a United States District Judge in Manhattan. In April 2022, the businessman, who was 64 years old at the time, entered a guilty plea to all five charges against him, including bank and wire fraud and conspiracy to run an unauthorized money transmission company.