[ad_1]
Fast setting
- Reginald Fowler, the man at the center of a fraud investigation by the US Attorney General's Office (USAG), has been described as a "serious flight risk" in a new court document obtained by The Block.
- Fowler's bank fraud accounts carry a maximum penalty of 30 years and are linked to his alleged failure to return $ 851 million as part of the relationship between his "ghost bank" and Crypto Capital.
- The government, through e-mail search warrants, has obtained a document titled "Master US Workbook," which details the plan's financial operations beginning in January 2019.
by the block
1 hour ago · 2 minutes reading
The man at the center of an investigation by the US Attorney General's Office (USAG) has been described as a "serious flight risk" in a new court document obtained by The Block. The USAG has filed in court charges of "banking fraud and operating an unlicensed money transfer business" by Reginald Fowler on April 30.
The number of bank frauds is punishable by up to 30 years and is linked to Fowler's alleged failure to return $ 851 million as part of the relationship between its "parallel bank" and Crypto Capital, which would have obligations in suspense towards Bitfinex. According to the prosecutors:
"Detention is appropriate for the following reasons: (1) the nature of the offense in question and the strength of the evidence presented by the defendant; (2) the defendant's financial resources and its links with other countries; (3) evidence that the defendant has already taken steps to impede this investigation; and 4) evidence of the defendant's involvement in other criminal schemes. For these and other reasons, the defendant is an atypical white collar accused and has a significant risk of absconding. "
The government claims that Fowler was at the center of the scheme that would have impacted Bitfinex and that he therefore has significant means to flee the country:
"The defendant has access to millions of dollars of bank accounts worldwide. The government, through e-mail search warrants, has obtained a document titled "Master US Workbook," which details the financial operations of the program in January 2019. This manual indicates that the program has received more than $ 740 million in 2018. It lists about sixty different bank accounts, held in national and international banks, with a combined account balance of more than $ 345 million in January 2019. "
USAG states that Fowler has virtually unlimited means to exist indefinitely outside the United States – and is likely to be subject to additional criminal and judicial proceedings. As a result, they asked for Fowler's detention.
Source link
