On July 30, according to TheBlock, Rowland Marcus Andrade, founder of AML Bitcoin and CEO of NAC Foundation, was sentenced to 84 months (7 years) in prison by a US federal court for telecommunications fraud and money laundering related to the cryptocurrency AML Bitcoin. The court found that between 2014 and 2019, Andrade deceived investors by falsely promoting AML Bitcoin's technology, business potential, and launch time, raising approximately $10 million, of which over $2 million was used for personal expenses such as purchasing properties and luxury cars. A hearing regarding victim compensation and asset forfeiture will be held on September 16, 2025.
AML Bitcoin founder sentenced to 7 years in prison for multi-million dollar cryptocurrency fraud
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