• Loading stock data...
Thursday, October 9, 2025
Law

Ex-Vikings, AAF Investor Pleads Guilty in $600M Crypto Scheme

  • A former investor in the Minnesota Vikings and the now-defunct Alliance of American Football has pleaded guilty in Manhattan federal court.
  • Reginald Fowler pleaded guilty to chargers related to a $600 million cryptocurrency scheme.
Brett Davis-USA TODAY Sports

A former investor in the Minnesota Vikings and the now-defunct Alliance of American Football has pleaded guilty to charges related to a $600 million cryptocurrency scheme. 

Reginald Fowler has entered an “open plea” in Manhattan federal court. Fowler will plead guilty to wire fraud, conspiracy to commit bank fraud, and operating an unlicensed money-transmitting business.

Prosecutors alleged that he facilitated unregulated transactions worth millions of dollars on behalf of several cryptocurrency exchanges, telling banks they would process as real estate transactions.

Fowler, who once attended training camp with the Cincinnati Bengals and played in the USFL, attempted to buy a stake in the AAF using illegally obtained funds, which contributed to the league shuttering operations in April 2019, before its first season ended.

  • Fowler originally committed $170 million to the AAF in 2019, per Action Network.
  • He later invested just $28 million in the league before it ceased operations. 

Fowler initially planned to plead not guilty following his arrest in April 2019 but changed his stance after facing a maximum of 90 years in prison. He later rescinded an offer in January 2020 from prosecutors that included a guilty plea to a single count, but required him to forfeit up to $371 million. 

After Fowler refused to accept the deal, federal authorities added more charges.

NFL Ownership

Fowler attempted to acquire the Vikings for $600 million in 2005 but failed to provide the necessary capital. Fowler later settled for a minority stake in the team, which he relinquished in 2014.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Brian Flores

Court Again Rejects NFL Request to Send Flores Case to Arbitration

The NFL has tried to keep the case out of open court.

NFL London Fans Get Partial Refunds After Ticket App Glitches

Fans experienced delays entering the Vikings-Browns game.
Sep 28, 2025; Dublin, Ireland; Pittsburgh Steelers fans cheer during the fourth quarter against the Minnesota Vikings during an NFL International Series game at Croke Park.

NFL Wants to Play on a Record Fifth Continent

Asia is in the league’s sights after a 2026 game in Australia.
Brian Flores

Brian Flores Asks Court to Halt NFL Arbitration

The war between Flores’s lawyers and an NFL arbitrator has heated up.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
Hymie Elhai

Jets Say Execs Tried to Sink Team President in Bumbling Conspiracy

The team says thousands of deleted text messages show the plot.
Jon Gruden
October 3, 2025

Jon Gruden’s Case Against NFL Gets Closer to Open Court

The Nevada Supreme Court ruled unanimously against the NFL’s appeal. 
Dec 2, 2022; Las Vegas, NV, USA; Southern California Trojans former quarterbacks Mark Sanchez (left) and Matt Leinart watch from the sidelines during the Pac-12 Championship game against the Utah Utes at Allegiant Stadium.
October 6, 2025

Mark Sanchez, Fox Sports Sued Over Alley Fight That Turned Bloody

The high-profile incident took place Saturday night in Indianapolis.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Apr 16, 2025; Washington, DC, USA; FIFA Chief Football Officer Jill Ellis speaks during a FIFA Club World Cup press conference at Audi Field.
October 1, 2025

San Diego Wave Owners Sue Jill Ellis for Abandoning Team After Sale

Ellis allegedly broke a pledge by leaving for FIFA after the sale.
Oct 27, 2024; Houston, Texas, USA; Houston Texans co-founder and former owner Janice McNair (left) sits with Texans chief executive officer Cal McNair and wife Hannah McNair in front of family members of Texans former player Andre Johnson (not pictured) during a ceremony at halftime of the game against the Indianapolis Colts at NRG Stadium.
September 29, 2025

NFL Sued for $100M Over Efforts to ‘Silence’ Brother of Texans Owner

Robert Cary McNair Jr. says the NFL helped remove him from roles.
Apr 11, 2025; Portland, Oregon, USA; Portland Trail Blazers forward Kris Murray (24) grabs a rebound during the second half against Golden State Warriors guard Buddy Hield (7) at Moda Center.
September 26, 2025

RAJ Sports Sues Panda Express Owners for Dumping Them in Blazers Bid

RAJ Sports says it led a group that sought to buy the Blazers.
Mar 26, 2025; San Francisco, CA, USA; Detail view of the logo and basketballs during NCAA Tournament West Regional Practice at Chase Center.
September 26, 2025

Judge Dismisses Multiple Claims in Transgender Participation Lawsuit

The lawsuit was brought in 2024 by conservative activist Riley Gaines and others.