Former Minnesota Vikings Football Team Co-Owner Caught Up In Shady Bitcoin Banking Scheme

Former Minnesota Vikings Owner Alleged Bitcoin Scandal

Reginald “Reggie” Fowler, the former owner of the Minnesota Vikings, has been charged by the U.S. Department of Justice, concerning his role in developing a banking scheme related to processing hundreds of millions of dollars of an unregulated transaction on behalf of a number of cryptocurrency exchanges.

According to a press release by the DOJ, Reginald Fowler has been arrested on “charges of bank fraud and operating an unlicensed money transmitting businesses.” Charges of bank fraud were also against his co-conspirator Ravid Yosef. The press release explains that the two worked for several related companies that provided fiat=currency banking services to a number of crypto exchanges. Together, the pair made misleading statements to banks for the purpose of opening accounts and such accounts were used to receive deposits from individuals purchasing the cryptocurrencies. Fowler and Ravid falsified electronic wire payment instructions to hide the cryptocurrency exchange business and the money from the exchanges was transferred to accounts around the world.

U.S. Attorney Geoffrey S. Berman stated in the press release,

“Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges. Their organization allegedly skirted the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes and did so through lies and deceit. Thanks to the investigative work of the FBI and the IRS-CI, they will be prosecuted for their actions.”

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