US Justice Department cracks down on two suspects who provide "shadow banking" services for encrypted exchanges

The New York Southern District Attorney’s Office issued a statement on April 30 stating that Reginald Fowler of Arizona and Ravid Yosef of Tel Aviv, Israel, have been sued for involvement in a bank account to transfer funds into a series of Name the plan for the cryptocurrency exchange. According to a court document issued by the Ministry of Justice, from February to October 2018, two financial institutions invented by the FDIC opened and used a large number of bank accounts, and handled hundreds of millions of dollars on behalf of numerous cryptocurrency exchanges through the operation of “shadow banking” services. Unregulated transaction. Two bank accounts under the name of Global Trading Solutions LLC were mentioned in the court documents and the company was previously determined to conduct business with Bitfinex. Although the court documents are not directly stated, the supplemental report shows that Global Trading Solutions LLC is related to Global Trade Solutions AG, the parent company of Crypto Capital. Fowler is now accused of bank fraud, conspiring to commit bank fraud and undocumented transfers. Yosef is currently not arrested and is accused of similar bank fraud and conspiracy.