AML Bitcoin CEO Convicted of Fraud and Money Laundering

According to PANews, a federal jury in San Francisco has found Rowland Marcus Andrade, the founder and CEO of AML Bitcoin, guilty of wire fraud and money laundering. Andrade is scheduled for sentencing on July 22, 2025. He faces a maximum of 20 years in prison for wire fraud and up to 10 years for money laundering, along with the forfeiture of assets linked to his crimes. Evidence presented during the trial revealed that the 47-year-old from Texas misappropriated over $2 million from AML Bitcoin sales for personal expenses, including the purchase of two properties in Texas and two luxury vehicles. Andrade laundered investors' funds through various bank accounts to finance these purchases. The jury determined that Andrade falsely claimed that AML Bitcoin was on the verge of approval by the Panama Canal Authority, a deal that did not exist. Through these misrepresentations, he raised millions of dollars from investors.