AML Bitcoin founder sentenced to 7 years for fraud and money laundering
Rowland Marcus Andrade, the founder of the AML Bitcoin cryptocurrency, has been sentenced to seven years in federal prison after being convicted of wire fraud and money laundering.
According to the U.S. Department of Justice, Andrade defrauded investors of over $10 million and misused $2 million of those funds for personal luxuries, including real estate and vehicles, reports Cointelegraph.
Prosecutors said Andrade misrepresented AML Bitcoin’s capabilities and fabricated business deals, such as falsely claiming the token would be accepted by the Panama Canal Authority. The seven-year sentence is significantly less than the 17.5 years prosecutors requested. Andrade will also be required to forfeit assets to compensate victims, with a restitution hearing set for September 16.
Court rejects Andrade’s plea for leniency
Despite his legal team’s push for a two-year sentence, the court handed Andrade a more substantial prison term due to the scale and brazenness of his fraud. U.S. Attorney Craig Missakian stated that Andrade’s repeated lies created the illusion of a legitimate crypto project and manipulated the trust of investors. The jury convicted Andrade in March 2025 after finding he had committed extensive fraud under the guise of launching a secure, regulation-friendly cryptocurrency. His prison sentence will officially begin on October 31, after which he will be subject to three years of supervised release. During this period, Andrade must regularly check in with authorities and comply with court-ordered restrictions.
Scandal tied to disgraced lobbyist Jack Abramoff
The AML Bitcoin case also drew attention due to its connection with infamous political lobbyist Jack Abramoff, who promoted the token and was later fined $55,000 and permanently banned from participating in securities offerings. Abramoff, who previously served time for fraud and bribery related to tribal casino lobbying, admitted to promoting AML Bitcoin without disclosing payments.
A related SEC lawsuit against Andrade was paused in 2021 pending the outcome of his criminal case, and parties now have 30 days to request a status hearing. Andrade’s sentencing marks another high-profile crypto fraud conviction amid increasing regulatory scrutiny of digital assets. The case underscores growing legal risks for cryptocurrency founders making unsubstantiated claims or engaging in deceptive practices.
Recently we wrote that the Cyprus Securities and Exchange Commission (CySEC) has issued an urgent public warning about a series of fraudulent websites that pose as legitimate recovery services and falsely claim affiliation with the regulator.
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