Former NFL Investor's Lawyers Seek to Withdraw From Crypto 'Shadow Banking' Case

Lawyers of embattled former NFL investor Reginald Fowler have filed a motion to withdraw as his representative counsel.

AccessTimeIconNov 10, 2020 at 9:55 a.m. UTC
Updated Aug 19, 2021 at 5:32 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Lawyers of embattled former U.S. Football League player and National Football League investor Reginald Fowler have filed a motion to withdraw as his representative counsel in a case involving alleged illegal cryptocurrency operations.

  • In a court document filed Monday, no definitive reason was given for the motion due to attorney-client privilege.
  • However, Fowler's lawyers, James McGovern and Michael Hefter of law firm Hogan Lovells, cited Local Civil Rule 1.4, which states an attorney for a party may be allowed a court order to withdraw for a "satisfactory reason."
  • According to the motion, filed in the U.S. Southern District Court of New York, McGovern and Hefter have informed Fowler multiple times since Feb. 26 of this year that they wished to withdraw.
  • They asked the court to delay deadlines in the case to allow Fowler's new representation to get up to speed.
  • Fowler is one of two individuals accused of running a “shadow banking” service for cryptocurrency exchanges. The other individual, Ravid Yosef, remains at large.
  • Allegedly acting under the guise of processing real estate transactions, the pair opened bank accounts with various financial institutions to illegally store funds on behalf of cryptocurrency exchanges.
  • Crypto Capital, the "shadow bank" Fowler stands accused of operating, is allegedly tied up in an $850 million black hole of crypto funds that went missing from the Bitfinex exchange in 2019.
  • In October, Fowler was said to be considering reopening plea bargain talks.
  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.