(Bloomberg) — A former minority owner of the National Football League’s Minnesota Vikings should spend seven years behind bars and forfeit more than $740 million after admitting he helped cryptocurrency exchanges avoid money-laundering rules, prosecutors told a federal judge in New York.
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Reginald Fowler, 64, an Arizona businessman who was part of a group of investors that bought the Vikings in 2005, pleaded guilty in April 2022 to five counts, including wire and bank fraud and conspiracy to operate an unlicensed money transmitting business. He is scheduled to be sentenced Thursday by US District Judge Andrew L. Carter Jr. in Manhattan.
According to prosecutors, Fowler established Global Trading Solutions LLC, which worked with a company called Crypto Capital that allowed cryptocurrency exchanges to swap their digital currencies for cash. Fowler was accused of opening several accounts at US banks by falsely claiming they were for real estate investment transactions when the true purpose was to handle crypto transactions.
In a memo to Carter on Tuesday, the…