The lawsuit against Reggie Fowler, the alleged illegal bank operator who worked with Bitfinex and Tether, is scheduled for February 2022.
Reginald Fowler has been identified as a defendant and a shadow bank operator who has been at the center of a dispute in a lawsuit against IFinex, the parent company of the Bitfinex exchange, and the issuer of stablecoins Tether.
Judge Andrew L. Carter for the Southern District of New York set a trial date for February 14, 2022, according to court documents dated August 4. Federal prosecutors have charged 60-year-old Reginald Fowler and 36-year-old Ravid Yosef with being involved in Crypto Capital’s “illegal banking business” and with hiding the true origins of hundreds of millions of dollars.
The US prosecutor’s office claims that Fowler, through the conduct of exchange transactions with cryptocurrencies, was engaged in the legalization of the criminal proceeds of Colombian drug cartels. Fowler is arrested on April 30, Yosef is in hiding. The accused face a penalty of up to 30 years in prison.
A lawsuit between Bitfinex and Tether, in which IFinex was accused of defrauding customers and using the stablecoin’s dollar reserves to cover $ 850 million in losses, was settled in February this year. The companies were ordered to pay $ 18.5 million in fines and stop trading in New York.
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