Sunday December 3, 2023

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
Copy Link
Link Copied
Link Copied

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 He later rescinded an offer in January 2020 from prosecutors that included a guilty plea to a single count, but required him to forfeit up to $371 million.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.

Copy Link
Link Copied
Link Copied

What to Read

San Francisco 49ers quarterback Brock Purdy celebrates with running back Jordan Mason after a touchdown against the Dallas Cowboys during the fourth quarter at Levi's Stadium.

NFL’s Massive Viewership Continues, With or Without Taylor Swift

Both CBS and NBC had strong NFL Week 5 viewership numbers.
The flag of Israel waves in the wind above crime scene tape outside Margolin Hebrew Academy after a man armed with a handgun first tried to enter the school and then began firing his gun outside the school before fleeing in Memphis, Tenn., on Monday, July 31, 2023.

Sports World Reacts to Hamas Attack on Israel

The NBA and NFL released statements as war spread in the region.
Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
podcast thumbnail mobile
Front Office Sports Today

CFP Looking to Super Bowl for Media Rights Plan


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers

Coverage of a Fan’s Chiefs Getup Sparks Outrage. Legal Fallout? Not So Fast

Deadspin has faced criticism after Monday story on race.
Baltimore Ravens offensive tackle Michael Oher on the bench against the Houston Texans in the fourth quarter at Reliant Stadium. The Texans defeated the Ravens 43-13.
November 10, 2023

Tuohy Family Paid Michael Oher Over $138K For ‘The Blind Side’

It contradicts Oher's original claims that he was not compensated.
Lane Kiffin
November 21, 2023

Ole Miss Player Alleges Lane Kiffin ‘Intended to Harm’ Him in Latest Filing

Ole Miss and Kiffin filed a motion to dismiss the lawsuit earlier this month.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Lane Kiffin
November 10, 2023

Judge Issues Stay in Lawsuit Filed Against Ole Miss, Lane Kiffin

Pause comes after Ole Miss, Kiffin file a motion to dismiss.
November 8, 2023

Settlement Concludes Latest Challenge of MLB’s Antitrust Exemption

The trial was slated to begin on Nov. 13 before the settlement was reached.
Detailed view of the SRR initials on the Nike Epic React flyknit shoes of Sanya Richards-Ross during the 125th Penn Relays at Franklin Field.
November 8, 2023

Nike Sues New Balance, Skechers Over Flyknit Technology

Nike has previously sued Adidas, Puma, and Lululemon for the same infringement.
Former NFL player Tom Brady on the field before the game between the Dallas Cowboys and the Las Vegas Raiders at AT&T Stadium.
November 7, 2023

Athlete FTX Endorsers Face Uphill Battle After Bankman-Fried Conviction

Tom Brady and Shaquille O’Neal are among the celebrities being sued.