Reginald Fowler, former minority owner of the Minnesota Vikings football team, recently entered a guilty plea to all five charges against him and will face seven years in prison, as well as a fine of more than $740 million for helping cryptocurrency exchanges dodge anti-money laundering regulations.

Fowler allegedly established Global Trading Solutions LLC to help companies facilitate the trading of digital currencies for fiat currency. To do this, Fowler deceived banks into setting up accounts which were meant to support legitimate real estate investments but were actually used to conduct cryptocurrency exchanges.

Furthermore, Mr. Fowler was charged with defrauding the short-lived Alliance of American Football by lying that millions of dollars belonged to Crypto Capital and/or Global Trading Solutions customers were his own assets. He used these funds to secure investments in the AAF, but was unable to provide the necessary payment due to the fraudulent activities. The resultant lack of funding caused the demise of the organization.

These events exemplify the dangers of committing money laundering in the cryptocurrency market, which has become increasingly vulnerable to extreme legal consequences. The timely plea deal of Fowler will serve as a warning to all crypto-currency traders and exchanges who seek to support illicit activities.



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