{"id":77570,"date":"2023-04-20T15:25:02","date_gmt":"2023-04-20T12:25:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77570"},"modified":"2025-09-11T00:04:14","modified_gmt":"2025-09-10T21:04:14","slug":"crypto-capital-case-defendant-loses-200000-in-casino-while-awaiting-sentencing","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crypto-capital-case-defendant-loses-200000-in-casino-while-awaiting-sentencing\/","title":{"rendered":"Crypto Capital case defendant loses $200,000 in casino while awaiting sentencing"},"content":{"rendered":"<p>U.S. authorities <a href=\"https:\/\/assets.bwbx.io\/documents\/users\/iqjWHBFdfxIU\/reIOcrAgPbI8\/v0\">\u0437\u0430\u043f\u0440\u043e\u0441\u0438\u043b\u0438<\/a> a seven-year sentence for Arizona resident Reginald Fowler, who <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-capital-defendant-pleads-guilty-to-fraud\">pleaded guilty<\/a> to money laundering through the Panamanian processor Crypto Capital.<\/p>\n<p>In a separate <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.513750\/gov.uscourts.nysd.513750.120.0.pdf\">\u0437\u0430\u043f\u0438\u0441\u043a\u0435<\/a>, prosecutors noted that during the period awaiting sentencing the defendant lost about $200,000 at Arizona casinos.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith every dollar the defendant risked in casinos, the likelihood of victims being compensated declines. Therefore the government respectfully asks the court to add a bail condition prohibiting gambling,\u201d the document says.<\/p>\n<\/blockquote>\n<p> According to investigators, the defendant-founded Global Trading Solutions LLC worked with Crypto Capital to help cryptocurrency exchange clients exchange digital assets for cash.<\/p>\n<p>In addition, Fowler provided several trading platforms, including Bitfinex, Binance, CEX.io and QuadrigaCX, with access to U.S. banks without the proper licenses.<\/p>\n<p>Prosecutors sought a $740 million fine that Crypto Capital launders. Fowler allowed illicit proceeds to pass through the U.S. financial system, which, the government said, has long-lasting \u201cmaterial consequences.\u201d<\/p>\n<p>Prosecutors also sought $53 million in restitution for his involvement in the bankruptcy of the <a href=\"https:\/\/www.si.com\/nfl\/2019\/05\/01\/alliance-american-football-aaf-collapse-charlie-ebersol-tom-dundon\">Alliance of American Football<\/a>. The investigation says Fowler had promised the organization investments of $53 million and a credit line for $120 million, but later backed out, leading to the league\u2019s collapse.<\/p>\n<p>According to the defendant, he had no money, no bank accounts, and no lawyer.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI have used up all my assets. I have put my property up as collateral. I cannot get a bank account. I have no income. I cannot access my deposits. And I want to find lawyers who understand this,\u201d Fowler said during a November 2022 hearing.<\/p>\n<\/blockquote>\n<p>As reported in April, on 10 <a href=\"#\">New York law enforcement<\/a> arrested former JPMorgan Chase and Deutsche Bank broker Rashon Russell on suspicion of digital-asset fraud. He urged investors to invest in altcoins, while spending their funds on gambling and debt repayment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. authorities <span class='old_tooltip' data-descr=\"translated tooltip\">requested<\/span> a seven-year sentence for Arizona resident Reginald Fowler, who {{AOPEN_1}}pleaded guilty{{ACLOSE_1}} to money laundering through the Panamanian processor Crypto Capital.<\/p>\n","protected":false},"author":1,"featured_media":77571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1979],"class_list":["post-77570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-crypto-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77570"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77570\/revisions"}],"predecessor-version":[{"id":77572,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77570\/revisions\/77572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77571"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}