The California jury sent a clear message about encryption fraud. According to the US Department of Justice, Rowland Marcus Andrade will be sentenced to seven years in prison after being convicted of full body fraud and money laundering.
Andrade pitched a token called AML BITCOIN as a legal way to fight financial crimes. In fact, he used about $ 10 million from investors to supply his lifestyle.
The founder was trapped in prison for encryption fraud.
Investors believed in the pitch of Andrade’s Moron class technology. Based on the report, he cut about $ 2 million for great cars and real estate.
The jury convicted him in March for charges of prosecution of decades of potential prison. However, Judge Richard Seporborg, a local judge in the Americas, prevented the sentence in 84 months, much lower than the government’s 210 months.
Rowland Andrade, the founder of AML Bitcoin, was sentenced to 84 months in prison.
To see more details, click below. #Irsci Auckland Field Office Case. https://t.co/liamtvztgh pic.twitter.com/ppkunmwwg2
-IRS crime investigation (@irs_ci) July 29, 2025
Fake Panama Canal Transaction
The prosecution pointed out one of the boldest lies. Andrade said the Panama Canal Authority will accept AML Bitcoin for ship tolls. There was no consent.
He repeated the claim that he kept interest and opened his wallet. This tactic worked for a long time, but it was released when the investigator dug deeper.
Much lower than government requests
Andrade’s team asked for release after two years. The government has insisted over 17.5 years.
Eventually, seven years will begin on October 31, and the compensation hearing on September 16 is set to determine how much his assets should be confiscated. After prison, he will be supervised for three years and regularly check in with the authorities.
A wide range of impacts on encryption promotion
This event also emphasizes the risk of famous sponsors. Political Lobbyist Jack Abramoff promoted AML BITCOIN in 2020 to pay a fine of $ 55,000 and forbidden from Future Securities.
His role shows that even a seasoned erect can face punishment when lending the reliability of fraud. It is a warning shot for anyone who thinks about making names in encryption without covering technology.
Chart of TradingView, the main image of getty images
Editorial process focuses on providing thorough research, accurate and prejudice content. We support the strict sourcing standard and each page is diligent in the top technology experts and the seasoned editor’s team. This process ensures the integrity, relevance and value of the reader’s content.
