AML Bitcoin Founder Convicted for $2M Fraud, Faces 30 Years

Rowland Marcus Andrade, the founder and CEO of AML Bitcoin, has been found guilty by a San Francisco federal jury on charges of telecommunications fraud and money laundering. The verdict, delivered on March 16, 2025, marks a significant development in the ongoing efforts to combat financial crimes within the cryptocurrency sector. Andrade, a 47-year-old resident of Texas, is scheduled to be sentenced on July 22, 2025, and faces a potential prison term of up to 30 years, with up to 20 years for telecommunications fraud and up to 10 years for money laundering. Additionally, the court has ordered the confiscation of assets related to his criminal activities.

According to the evidence presented during the trial, Andrade misappropriated over $2 million from AML Bitcoin sales for personal use. These funds were used to purchase two properties in Texas and two luxury cars. The jury found that Andrade laundered investors' funds through various bank accounts before using them to finance his personal expenditures. Furthermore, Andrade was found to have made false claims about AML Bitcoin's impending approval from the Panama Canal Authority, a claim that was later proven to be baseless. These deceptive statements were instrumental in raising millions of dollars from unsuspecting investors.

The case against Andrade underscores the increasing scrutiny that cryptocurrency ventures are facing from regulatory authorities. The verdict serves as a stark reminder of the legal consequences that individuals involved in financial fraud and money laundering may face. The growing popularity of digital currencies has led to a surge in related fraudulent activities, making it imperative for regulatory bodies to enhance oversight and investor protection measures. The AML Bitcoin case highlights the need for stringent regulations and vigilant monitoring to safeguard investors and maintain the integrity of the cryptocurrency market.

Andrade's actions not only resulted in significant financial losses for investors but also eroded trust in the cryptocurrency industry. The case serves as a cautionary tale for entrepreneurs and investors alike, emphasizing the importance of due diligence and transparency in financial dealings. As the cryptocurrency landscape continues to evolve, it is crucial for stakeholders to prioritize ethical practices and adhere to regulatory guidelines to foster a secure and trustworthy environment for all participants.