NEW YORK (AP) - An Arizona man and an Israeli woman have been charged with bank fraud for allegedly processing hundreds of millions of dollars for cryptocurrency exchanges illegally.
The charges were announced Tuesday in New York.
Prosecutors say Reginald Fowler of Chandler, Arizona, was arrested and Ravid Yosef of Tel Aviv, Israel, is at large.
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Authorities said the 60-year-old Fowler and 36-year-old Yosef worked for several related companies to provide banking services to various cryptocurrency exchanges.
U.S. Attorney Geoffrey Berman said Fowler and Yosef used lies and deceit to run a shadow bank that processed hundreds of millions of dollars for the platforms where people buy and sell cryptocurrency.
He says the defendants lied to banks and dodged anti-money laundering safeguards required of licensed institutions.
A lawyer for Fowler didn’t comment.
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