Bitcoin News Today: Founder of AML Bitcoin sentenced to 84 months for $10M crypto fraud and money laundering

Rowland Marcus Andrade, the founder of the defunct cryptocurrency project AML Bitcoin, was sentenced to 84 months in federal prison on July 29, 2025, following his conviction for wire fraud and money laundering. The sentence was handed down by Chief U.S. District Judge Richard Seeborg in the Northern District of California. Andrade was found guilty of misleading investors with false claims about AML Bitcoin’s development and potential, including a fabricated partnership with the Panama Canal Authority [1].

According to court documents, Andrade defrauded investors out of approximately $10 million. Over $2 million of the funds were spent on personal luxury items, such as high-end vehicles and real estate in Texas. The court also determined that Andrade had laundered the illicit proceeds through a series of bank accounts to conceal the financial trail [1].

United States Attorney Craig H. Missakian highlighted the case as a key example of the Department of Justice’s efforts to safeguard the digital asset market. “He exploited numerous investors who put their trust in him, not knowing that their hard-earned money was in fact funding his lavish lifestyle,” Missakian said [1]. FBI Special Agent in Charge Sanjay Virmani echoed the sentiment, stating that Andrade’s actions “misled innocent people who believed they were investing in the future of digital currency” [1].

In addition to the prison term, Andrade is required to serve three years of supervised release and must pay forfeiture, the amount of which will be determined at a hearing on September 16, 2025. The court will also decide how much restitution is owed to victims. Andrade is scheduled to begin his prison sentence on October 31, 2025 [1].

The prosecution of the case involved Assistant U.S. Attorneys Christiaan Highsmith, David Ward, and Karen Beausey, alongside Trial Attorney Matthew Chou. The investigation was conducted by the FBI and the IRS Criminal Investigation (IRS-CI) [1]. Bloomberg noted that the case represents a “sophisticated fraud scheme,” underscoring the complexity of the deception involved [2].

AML Bitcoin’s collapse has been highlighted as another high-profile example of cryptocurrency-related fraud. Bitcoin.com described the scheme as being fueled by lies and false technological claims [3]. The extravagant lifestyle Andrade maintained using illicit funds was emphasized by outlets such as FastBull and BitDegree, which detailed the $10 million in losses and the luxury purchases [4][5].

Multiple news outlets, including AInvest and RootData, have framed the sentencing as a clear signal from U.S. authorities that white-collar crime, particularly in the digital asset space, will face severe consequences [6][7]. Mitrade also noted that the Department of Justice stressed the importance of delivering justice to the victims of such crimes [8].