2022 trial date set for Tether’s suspect ‘shadow banker’ Reggie Fowler

Former NFL team owner and alleged “shadow bank” operator Reggie Fowler isn’t engaged in any plea negotiations and also the trial against him is about to start early next year.

A 2022 trial date has been set for former NFL team owner and alleged “shadow banker” Reggie Fowler.

Fowler is the suspected operator of the shadow bank to the crypto sector, Crypto Capital that was at the center of difference of opinion within the court case against IFinex Inc — the parent company of crypto exchange Bitfinex and stablecoin issuer Tether.

According to Aug.4 court documents, U.S. DistrictCourt Judge of the Southern District of latest York, Saint Andrew Carter has set a jury selection and trial date for Feb.14 2022, that is subject to vary in lightweight of future pandemic connected restrictions.

U.S. prosecutors assert that Fowler provided unauthorized money-transmitting services to many crypto companies, at the side of bank fraud, and lavation funds on behalf of Columbian drug cartels.

A case against Bitfinex and Tether, within which IFinex was suspected of commingling funds between the 2 companies to hide up an $850 million loss suffered by Bitfinex in its dealings with Crypto Capital, was settled in February of this year. The companies were ordered to pay $18.5 million value of civil penalties and to finish off dealing in New York.

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However, the case against Fowler remains in progress when he rejected a guilty plea deal which might have left the previous NFL capitalist on the hook for $371 million. The figure reportedly supported the income he generated from his alleged crimes.

U.S. federal attorney Audrey Strauss made public within the documents that the “parties aren’t presently engaged in plea negotiations and don’t anticipate resuming negotiations” which means there’s unlikely to be a settlement like within the instance of IFinex.