Former NFL and Vikings co-owner sentenced to 6+ years for crypto fraud

Reggie Fowler, former co-owner of the Minnesota Vikings, has been sentenced to six years in prison for operating as a "shadow bank" to the crypto sector, involving over $700 million in unregulated transactions over a 10-month timespan in 2018. Fowler was sentenced to a total of 75 months on bank fraud and money laundering charges. He managed to pull off his crimes by establishing Global Trading Solutions (GTS) around February 2018, which worked with Crypto Capital and other crypto firms operating out of Israel. Fowler opened a dozen of these accounts to facilitate these crypto transactions without the banks' knowledge and failed to disclose GTS's relationship with the crypto firms.