An Arizona Man and an Israeli woman have been charged in connection with providing “shadow banking services” to cryptocurrency exchanges — involving millions of dollars.
The two individuals were charged by the United States Attorney for the Southern District of New York, the Federal Bureau of Investigation (FBI), and the Internal Revenue Service (IRS) in a criminal investigation.
Reginald Fowler was arrested on charges of bank fraud and operating an unlicensed money transmitting business while additional bank fraud charges were unsealed against Ravid Yosef — who remains at large.
‘Shadow Bank’ Allegations
Both individuals are claimed to have worked for related companies that provided “fiat-currency banking services to various cryptocurrency exchanges,” as well as allegedly participating in a conspiracy in which Fowler made “numerous false and misleading statements to banks and opened bank accounts that were used to receive deposits from individuals to purchase cryptocurrency.”
The allegations also note the…