Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
Information
Discover
Search
Login
简中
繁中
English
日本語
한국어
ภาษาไทย
Tiếng Việt
BTC
ETH
HTX
SOL
BNB
View Market
AML Bitcoin founder sentenced to 7 years in prison for multi-million dollar cryptocurrency fraud and money laundering
16hours ago

According to Odaily Planet Daily, Rowland Marcus Andrade, founder of AML Bitcoin and CEO of the NAC Foundation, has been sentenced to 84 months (7 years) in prison by a US federal court for wire fraud and money laundering involving the cryptocurrency AML Bitcoin. The court found that Andrade defrauded investors of approximately $10 million between 2014 and 2019 by falsely promoting AML Bitcoin's technology, commercial potential, and launch date. He used over $2 million of the proceeds for personal expenses, including real estate and luxury cars. A hearing regarding victim compensation and property forfeiture will be held on September 16, 2025. (The Block)