Former Minnesota Vikings Co-Owner Sentenced to Prison for $700 Million Cryptocurrency Scam

Reginald Fowler, a former co-owner of the Minnesota Vikings, has been handed a prison sentence of over six years for his involvement in a $700 million cryptocurrency scam that targeted the Alliance of American Football. The scam led to the collapse of the professional football league, which faced financial difficulties in 2019. Fowler, who misled league executives with false claims of controlling substantial funds from real estate investments and government contracts, was sentenced in Manhattan federal court. He has been ordered to forfeit $740 million and pay restitution of $53 million.

The ill-fated Alliance of American Football, a professional football league that was short-lived, experienced a sudden demise in 2019 due to financial insolvency. Reginald Fowler played a crucial role in perpetrating a massive cryptocurrency scam against the league. Prosecutors revealed that Fowler deceived league executives by falsely representing his control over bank accounts with tens of millions of dollars, which he claimed would be used to support the league’s operations.

Prior to his involvement in the cryptocurrency scam, Fowler had attempted to purchase the Minnesota Vikings of the NFL in 2005. He became a minority owner but severed ties with the team in 2014. In his criminal activities, Fowler engaged in processing hundreds of millions of dollars in unregulated transactions on behalf of cryptocurrency exchanges, essentially operating as a shadow bank. By deceiving legitimate U.S. financial institutions and misrepresenting his net worth, he endangered the country’s financial system and victimized the professional football league.

U.S. Attorney Damian Williams emphasized the severity of Fowler’s crimes, which involved substantial unregulated transactions and misrepresentation of his wealth. Fowler’s actions not only compromised the integrity of the financial system but also undermined the Alliance of American Football. As a result, he has been sentenced to over six years in prison. Defense lawyer Edward Sapone submitted a statement on Fowler’s behalf, expressing his remorse and acknowledging his significant contributions to family and community prior to his criminal activities. Sapone highlighted Fowler’s inability to fulfill his investment promises to the football league due to frozen bank accounts and an inability to secure the necessary funds.