Founder AML Bitcoin convicted of fraud and money laundering

The Federal Jury condemned Rowland Marcus Andrade, the founder and executive director of AML Bitcoin, from wire processing and money laundering relating to false marketing and sales of cryptocurca.

The verdict was achieved after a five-week trial in the North District of California, with the main American District Judge Richard Seeborg presiding.

According to prosecutors, Andrade, 47, Filed investors False claiming that Aml Bitcoin has advanced money laundering technology and adopted the management of Panamic channels.

In reality, there was no such agreement. Andrade launched millions through these misrepresentation and redirected over two million dollars for personal expenses, including luxury cars and real estate in Texas.

Accusations of financial fraud

Federal Agents Investor funds found Through more bank accounts, which leads to accusations of financial fraud. Acting of the American lawyer Patricka D. Robbins stressed that cheated investors for personal gain is illegal and will be processed.

FBI Special Agent FBI in Sanjai Virmani and IRS Criminal Research The special means Linda Nguyen emphasized the commitment of the Agency to protect financial markets from false schemes.

Andrade was set up for punishment of punishment 22. July 2025. year, turned to 30 years in prison. His illegally acquired property is subject to subtracting.