🚀 AML Bitcoin CEO Convicted of Fraud and Money Laundering
#AMLBitcoin #fraud #moneylaundering #wirefraud #RowlandMarcusAndrade #investorfraud #courtcase #SanFrancisco #forfeiture #PanamaCanalAuthority
According to PANews, a federal jury in San Francisco has found Rowland Marcus Andrade, the founder and CEO of AML Bitcoin, guilty of wire fraud and money laundering. Andrade is scheduled for sentencing on July 22, 2025. He faces a maximum of 20 years in prison for wire fraud and up to 10 years for money laundering, along with the forfeiture of assets linked to his crimes.
Evidence presented during the trial revealed that the 47-year-old from Texas misappropriated over $2 million from AML Bitcoin sales for personal expenses, including the purchase of two properties in Texas and two luxury vehicles. Andrade laundered investors' funds through various bank accounts to finance these purchases. The jury determined that Andrade falsely claimed that AML Bitcoin was on the verge of approval by the Panama Canal Authority, a deal that did not exist. Through these misrepresentations, he raised millions of dollars from investors.#AMLBitcoin #fraud #moneylaundering #wirefraud #RowlandMarcusAndrade #investorfraud #courtcase #SanFrancisco #forfeiture #PanamaCanalAuthority
🚀 AML Bitcoin Founder Sentenced to Seven Years for Fraud and Money Laundering
#AMLBitcoin #RowlandMarcusAndrade #fraud #moneylaundering #cryptocurrency #investordeception #courtcase #USJusticeSystem #BTC
According to BlockBeats, Rowland Marcus Andrade, the founder of AML Bitcoin and CEO of NAC Foundation, has been sentenced to 84 months in prison by a U.S. federal court. Andrade was found guilty of wire fraud and money laundering related to the cryptocurrency AML Bitcoin. The court determined that between 2014 and 2019, Andrade misled investors by falsely promoting the technology, commercial potential, and launch timeline of AML Bitcoin, raising approximately $10 million. Of this amount, over $2 million was used for personal expenses, including real estate and luxury cars. A hearing regarding victim compensation and asset forfeiture is scheduled for September 16, 2025.#AMLBitcoin #RowlandMarcusAndrade #fraud #moneylaundering #cryptocurrency #investordeception #courtcase #USJusticeSystem #BTC