Reginald Fowler, a former principal of Crypto Capital Corp (CCC), the shadow banking service for cryptocurrency, has put forward his own account of poverty, desperation, and personal loss in a quest for a more lenient sentence. Fowler pleaded guilty to numerous counts of bank fraud, wire fraud, and running an illegal money transmitter back in April of this year. His matters were further complicated by the DoJ freezing his assets, and having his legal team drop him due to unpaid bills. During this time he gambled away hundreds of thousands of dollars and is currently barred from doing so.

The 62-year-old's defender documented the struggles he's faced since birth, citing a lack of appropriate parenting and racial bias as the catalysts of his own business endeavours. He was further lauded by family and friends as a local community icon who's handling the adversities of his siblings' unexpected deaths with 'dignity and grace'. Some of his confidants, however, lacked understanding of the ethical complexities behind the criminal accusations against him and thus could not offer a fully informed testimony.

According to the Department of Justice, Fowler oversaw the movement of 'hundreds of millions of dollars' throughout his bank accounts. Based on these charges, the suggested prison terms clock in at between 15 to 20 years. Nonetheless, his advocates are requesting a sentence of 8 to 10 years with no jail time at all, given he's a first-time offender. The court announcement is scheduled to take place on April 20.



Other News from Today