The request cites concerns about the personal health of Fowler’s attorney and the need to obtain additional materials from Europe.
Reggie Fowler, a former NFL team owner and alleged “shadow banker” who could face up to 30 years in prison, has petitioned the Southern District Court of New York for a six-month stay.
Technically, it was Fowler’s lawyer Ed Sapone who requested the “unusually long delay” based on his “serious medical condition” and the need to gather information relevant to the case from financial institutions, organizations and individuals in Europe.
According to independent journalist Amy Castor, who reported on the developments, Sapone filed a statement on Saturday – three days before the scheduled verdict. Since the prosecutor’s office did not object to the delay, Fowler will receive at least six months of freedom. He is now living on bail in Arizona.
The 63-year-old is accused of running crypto-sector shadow bank Crypto Capital, which is at the center of controversy in a lawsuit against iFinex Inc, the parent company of Bitfinex crypto exchange and Tether stablecoin issuer. U.S. Attorneys allege that Fowler provided unlicensed money transfer services to several cryptocurrency firms, as well as engaged in bank fraud and money laundering on behalf of Colombian drug cartels.
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In February 2022, a lawsuit against Bitfinex and Tether was settled accusing iFinex of mixing funds between the two firms to cover the $850 million loss suffered by Bitfinex from transactions with Crypto Capital. The companies were ordered to pay $18.5 million in civil penalties and close the New York retail facility.
However, Fowler backed out of a plea deal back in 2020, but unexpectedly intervened in April 2022. According to Castor, this turnaround can be explained by financial reasons – due to the lack of timely payments, Fowler’s original legal team was reduced to one lawyer. , and court hearings would require significant funds to cover his work.