The founder of AML Bitcoin was sentenced to 7 years in prison for alleged cryptocurrency fraud and money laundering

ChainCatcher news, Rowland Marcus Andrade, the founder of AML Bitcoin and CEO of NAC Foundation, has been sentenced to 84 months (7 years) in prison by a U.S. federal court for involvement in telecommunications fraud and money laundering related to the cryptocurrency AML Bitcoin.

The court found that Andrade deceived investors by falsely promoting the technology, business potential, and launch timeline of AML Bitcoin, raising approximately $10 million from 2014 to 2019, of which over $2 million was used for personal expenses such as purchasing real estate and luxury cars. A hearing regarding victim compensation and asset forfeiture will be held on September 16, 2025.