AML Bitcoin CEO Rowland Marcus Andrade Convicted of Fraud and Money Laundering, Faces 20 Years in Prison

On March 16th, COINOTAG News reported significant developments in the cryptocurrency sector, highlighting a federal jury in San Francisco’s verdict against Rowland Marcus Andrade, the founder and CEO of AML Bitcoin. Found guilty of telecommunication fraud and money laundering, Andrade faces a potential prison sentence of up to 30 years, with formal sentencing set for July 22, 2025.

Evidence revealed that the 47-year-old Andrade diverted over $2 million from AML Bitcoin sales for personal use, including real estate investments in Texas and luxury vehicle purchases. Investigators uncovered that Andrade laundered investor funds through multiple bank accounts, reinforcing the legal ramifications of financial misconduct in the cryptocurrency arena. Moreover, the jury determined that Andrade had misrepresented significant developments regarding regulatory approval from the Panama Canal Authority, which contributed to a misleading investment narrative used to solicit funds from investors.