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AML Bitcoin founder sentenced to 7 years for cryptocurrency fraud and money laundering


2025-07-3016819 Views
according to The Block, NAC Foundation founder and CEO Rowland Marcus Andrade has been sentenced to 84 months in federal prison for telecommunications fraud and money laundering related to the cryptocurrency project AML Bitcoin. The court found that Andrade, between 2014 and 2019, made false and misleading statements to investors about the technology, business prospects, and release schedule of AML Bitcoin, defrauding investors of approximately $10 million. This included falsely claiming that the Panama Canal Authority was about to approve the use of AML Bitcoin. In addition, Andrade also used over $2 million of project funds for personal expenses such as purchasing real estate in Texas and luxury cars.




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