AML Bitcoin founder sentenced to 7 years in prison for multi-million dollar cryptocurrency fraud and money laundering
2025/07/30 09:37
PANews reported on July 30 that according to The Block, Rowland Marcus Andrade, founder of AML Bitcoin and CEO of NAC Foundation, was sentenced to 84 months (7 years in prison by a U.S. federal court for wire fraud and money laundering involving the cryptocurrency AML Bitcoin. The court found that Andrade defrauded investors of approximately $10 million between 2014 and 2019 by falsely advertising AML Bitcoin's technology, commercial potential, and launch date, and used more than $2 million of that for personal expenses, including the purchase of real estate and luxury cars. A hearing on victim compensation and property forfeiture will be held on September 16, 2025.
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